Investment

(For those who have chosen ASB / ASN as their pot of investment, do not read further. Writer is not responsible for any resentment towards the portfolio mentioned)

(I say, DO NOT READ FURTHER)

I am a big believer in the ASB (Amanah Saham Bumiputra). Believed that is the best investment portfolio ever created in Malaysia. The return is very good, the best for the Bumis. About five years ago, people has started to write about shariah-endorsed investment. And ASB is not one of them. I took time to swallow that but decided to proceed anyway.

The reason that I was not so keen into believing a shariah-endorsed investment is the doubt I had that our system is so clean. I believed that somehow people who worked towards a shariah-certification over something must have been paid. In short, i believe whomever declared the halalility (if there is such word) can actually be paid to do so. So I couldn't care less whether this is shariah certified or not. I even opted for two conventional insurance portfolios. That was me.

However, I think that over years, I believe that the trust must be developed somehow, sometime. It is time that I start to believe in the people, in the work they have created. I started to read more and sadly, there aren't many writings about Islamic economic and financing. (or perhaps I have not done enough digging).

I started reading about zakat. Do you notice that the Quran always cite solat (prayers) and zakat together? I mean, we emphasize on the importance of five-times a day prayer but I never was bothered about zakat (except for Zakat fitrah done during the Eid-ul-Fitri). The concept of a halal source of income and the zakat imposed on it has somehow triggered me to think more of a halal investment.

I took opportunity of the long maternity break I have to do lots of thinking.

Thus, this is my action plan:

1. To withdraw all my ASB deposits and dump them into Tabung Haji for the low-risk portfolio. This account will act as the 'emergency tank' for me, sitting there for the rainy days yet collecting a good return. Tabung Haji did about 6% lasst year, which was as good as ASB.
(but I am yet to get my Dad do that paper for my Tabung Haji since it was opened on his name before)

2. Moderate-risk and high-risk portfolio is to be invested to a shariah-certified unit trust Fund. Public Mutual (PM) is the one actracts me most. Let me blog about PM a bit longer in different entry.

3. Cancel Azeuchry Investment-linked-education fund with ING. The return is not so good plus I opt to find him a better portfolio. I splitted my committment to him in two before: 50% to Tabung Haji and another 50% to that ING education. His dad dumped a few into Amanah Saham Didik. I am to withdraw that ING and dump them into a good perhaps moderate-risk PM shariah-certified fund. Will lose around RM2k like that but it is OK.

4. My life insurance (with HLA) for Alang's medical card is to be maintained. I am yet to find whether that was Shariah-certified portfolio and decide from there.