Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

I Do Not Wish to Manage My Own Funds Anymore

Reply
DST
Super Contributor
Start with your money on the index. Link and learn, with a network like

www.tickertalk.co.za

If you want, start with maybe 5 or 10% of your pot under your own decisions - and after a year, if you are beating the index, take more. If after 5 years, your decisions are better in 4 or more of the five years, you should manage your own money. If the index beats you, relax - you are normal and in line with the industry.
0 Kudos
Porshe
Contributor
Nimo,i started feb and i got bitten here and thereand yes you are right about the cost,i hope you know that you havent paid school fees
0 Kudos
Not applicable
Thanks a lot. You guys are awesome. I will definitely be checking out the Shariah compliant ETF. I'm quite surprised noone has asked me why interest is considered a sin. Would be glad to tell you if you ask. Thanks again everyone. You guys are well-informed I must say
0 Kudos
Not applicable
Now you mention it, I am keen to learn why interest is considered a sin under Shariah law.
0 Kudos
Not applicable
Well let's say for ease of explanation that Sandton is the world. Now I am sure you know the dynamics behind the reserve bank and repo rate, etc. but I will explain as if you don't know just in case. Now say for instance this 'world' economy has just begun. The Sandton Reserve Bank now decides to lend R100000 to the world to all the commercial banks at an interest/REPO rate of 6% p.a to increase (in this case, TO BEGIN) the money supply. These banks in turn lend the money to the consumer at let's say 8% p.a. At the end of one year, the commercial banks owe the reserve bank R100000 + R6000 and the consumers owe the banks R100000 + R8000. Where will this R6000/R8000 come from? What happens in the real world is that some consumers manage to make these payments and others become insolvent and have their assets repossessed This causes a greater amount of poor people in a country. Interest was created to enslave the people who are indebted to the owners of the capital.
0 Kudos
john_1
Super Contributor
Hum..interesting perspective...So in this "world" under shira law..what is the solution for both the lender and the borrower?
0 Kudos
Levitt
Regular Contributor
Well the consumers weren't forced to take out a loan, it's optional, and there are no free lunches. And what if interest works in your favor? Eg. Earning interest in your savings account, or doing 'carry' trades with currencies.
0 Kudos
Not applicable
Nah dudes, Nimo's views are a simplified version of the strongest critisism against a fractional reserve banking system, i.e. that it benefits some at the expense of others (some would argue that this is human nature) and many have questioned whether it is sustainable. These arguments are old and well documented, and have merit. My personal two cents worth, is that a)nobody has yet come up with a vialble alternative and b) you can't fight it by boycotting it. The reason being, because interest and inflation is engrained in virtually every aspect of your lives. if you are going to boycot interest on your account, then you have to boycot borrowing at the same time. if you boycot borrowing, then you have to boycot buying a house, or a car, or any other high value items that will take you years to pay off.
0 Kudos
john_1
Super Contributor
I certainly don't knock it.. and I am very interested in sucsess stories that dont involve interest...There is alweays a better way and I am one who is willing to investigate that.. My comment was in no way negative it was simply questioning..
0 Kudos
SimonPB
Valued Contributor
if you boycot borrowing, then you have to boycot buying a house, or a car, or any other high value items that will take you years to pay off .. not true, one can do it the old fashioned way, save up in order to buy rather then living beyond ones means ..
0 Kudos
Not applicable
Hi SIMON-Is this Sharia fund compliant with the Jewish religious belief where the sale and consumption of pork and non kosher meats/foods,alcohol.tabacco,ammunition,gambling etc are completly forbidden?
0 Kudos
Not applicable
Hi SIMON-Is this Sharia fund compliant with the Jewish religious belief where the sale and consumption of pork and non kosher meats/foods,alcohol.tabacco,ammunition,gambling etc are completly forbidden?
0 Kudos
Not applicable
Hi SIMON-Is this Sharia fund compliant with the Jewish religious belief where the sale and consumption of pork and non kosher meats/foods,alcohol.tabacco,ammunition,gambling etc are completly forbidden?
0 Kudos
Wizard
Super Contributor
ALL THANKS TO THE LAZY SYSTEM I SUPPOSE ?
0 Kudos