Sharia-compliant ways to maximize tax rebates and increase money
Sharia-compliant people manage their income according to Sharia and want to deposit money according to Sharia. However, the return / profit on this accumulated money is less than that of inflation, so the money does not increase at all. Also, for those who want to make a safe investment according to Sharia for tax (investing in savings certificates is also not Sharia-compliant due to interest) there is really not much option.
Investing in Shariah compliant stocks in our capital market can lead to good returns and at the same time full tax rebate. But it is a matter of time before Shariah compliant shares are selected and monitored. Apart from that, investing directly in the stock market is also risky! All in all, Sharia-compliant people need an approach that is Sharia-compliant, gives good returns, and ensures maximum tax rebates.
IDLC Asset Management ensures the purity of income through Shariah Fund (not only the growth of money through Shariah-compliant investments and maximum tax rebates, but also through ‘purification’).
The SIP (Systematic Investment Plan) of IDLC Asset Management Sharia Fund can invest a certain amount of money every month according to one’s ability just like DPS without investing a large amount at once. Investing risk is also greatly reduced as a result of monthly investment compared to one-time investment. And in the long run, such investments make for a much better return than a savings scheme (since investing in this fund is a direct business). In addition, the full money invested under the Income-tax Ordinance, 1974 is a suitable investment for tax rebate, so the fund guarantees maximum tax rebate along with good returns.
In addition, there is a Shariah Supervisory Board comprising eminent Islamic and finance scholars of the country to ensure Shariah compliance for investment. All in all, IDLC Asset Management Shariah Fund’s ‘Shariah Investment Policy’ has been recognized by International Islamic Finance Advisor ‘Amani Advisors Limited’. Dubai-based Amani Advisors Limited is one of the world’s leading Islamic finance advisory firm with experience in conducting more than 700 Shariah-related advisory projects for over 200 clients from around the world.
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