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 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 Ajmal, 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 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 ( @ ) wealthcity dot in
+91 99403 19452 +91 44 43329596
