Abrar, Media Relations, contact@wealthcity.in |
| News | Posted By: hindtodaynews on:8/24/2009 6:39:43 PM |
Muslims of India have now got a feasible Islamic
financial alternative as one of the first Halal / Shariah Compliant Stock Brokering and Investment Service has been
initiated by WealthCity.
WealthCity have launched their operations from
Chennai, India and aim to open up a vast and profitable investment avenue for
Muslims who have not invested in Stocks fearing Islamic values and
restrictions.
WealthCity have tied up with Religare, a Ranbaxy Group company to
bring the best of Stock Markets, Mutual
Funds, Portfolio Management Services, Real Estate Investment, Wealth Management
Services, and
specific Islamic financial needs such as Zakat, Inheritance Calculation, Hajj
saving schemes, etc all in
Ethical / Shariah Compliant Way.
WealthCity has on its Board of Advisory, Scholars including people of High Eminence
giving exemplary service in the field of Islamic Finance who provide Islamic
guidelines on Stock Selection and on other financial matters.
The Scholars are from reputed universities like Madina University, Deoband, Jamia Dar us
Salam etc, who are well versed in the concept of Islamic Finance, having
qualification like Diploma in Islamic Banking and Finance, in addition to their
aalimiats.
“Keeping in
mind, the Muslim’s dilemma and the need to be guided properly for investing in a Shariah Compliant and
Profitable Way, WealthCity has teamed up with Religare and come up with a list of companies, which is well
researched by financial specialists and screened for Islamic Parameters by
Shariah scholars,” said Mohamed, Managing Director of WealthCity who
also happens to be Certified in Islamic Banking and Finance.
“Our aim to
take this profitable idea to each and every Muslim, so that they can earn in a Handsome but Halal way. There
will also be an inclusive growth for
India and Muslims, if the money which has been lying idle in their current
accounts finds their way into Stock Market”, says Mohamed Ajmal.
With the great demand for Shariah Compliant
products and services and with the development of possible Islamic alternatives
to conventional finance, Muslims around the world are increasingly able to
participate in the financial world without bearing an economic penalty or
fearing violation of Shariah laws.
WealthCity provides a complete financial suite to investors to pursue their investment goals
with a dedicated team of advisors and an advanced e-trading portal which
enables investors to buy and sell shares with ease, anywhere, anytime. Their
website www.wealthcity.in also contains
information that is invaluable to a person of Islamic belief and of other
faiths.
“We have a
team of experts who conduct in-depth
research into nearly 6000 stocks listed in stock market, applying various Shariah Screening norms,
like on the company’s Business activity and checking the company’s balance
sheet for various complex financial ratios (for eg Debt,Equity &
Recievables ratios), to weed out all companies not conforming to Islamic
Standards” says Shams Tabraze Research Head, WealthCity.
WealthCity also aims to educate all users through
the powerful medium of web with loads of information about their products and
services along with the reason for their participation in Islamic Stocks and
finance. Information regarding why people tend to choose only Halal companies
and what other religious scriptures say about investing the money in the right
place can be found in www.wealthcity.in
In-house developers of www.wealthcity.in are in the process of
developing an advanced e-trading portal for their users to know the current
trends in stock and financial market to aid in the investment process..
“We have
been offering Reliable services to clients following strict Shariah Compliant
standards, and by Allah’s Help We have received good response from the Muslim Community
not only from Chennai but also from Kerala, Bangalore, etc and as far as
Indians from Malaysia & Middle East. We are also planning to expand our
operations in various other cities in India” claims Mohammed Abrar, Media
Relations, WealthCity.
Even though there has been a lot hurdles faced by
similar Islamic Investment Companies, WealthCity
seems to be on the Right Track towards fulfilling the long cherished desire
of Indian Muslims to invest according to their Beliefs and Faith.
Contact:
Abrar, Media Relations
contact@wealthcity.in
+91 99403 19452 +91 44 43329596
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