Since the introduction of Islamic finance in various regions, there has been a rise in the number of people who are seeking Shariah financial planners. This is a good thing since you can now have access to professional advice when it comes to your investments and savings plans. However, not all Shariah financial planners are equal. There are some qualities that set them apart from others and make them stand out as experts and leaders in their field. Here are five qualities that you should look for when hiring a Shariah financial planner:
Should have a comprehensive understanding of Shariah
Shariah is a set of Islamic legal guidelines that define what is permissible and what is forbidden in Islam. In the context of finance, Shariah-compliant investments follow their religious laws and do not involve any interest or gambling. It's important to note that Shariah does not restrict Muslims from making non-Shariah compliant investments, but it does advise them to choose wisely when selecting investment options. Your financial planner should be able to explain how they will implement Shariah principles into your portfolio by providing you with an overview of the process for selecting suitable companies that adhere to Islamic principles.
Should be aware of the current market developments and their implications
Your Shariah Adviser should be aware of the current market developments and their implications. It is important for you to know how to use these developments in your advantage, and how to assess your situation. Knowing what instruments will help you achieve your goals is important as well.
Needs to know how to use these developments in your advantage
It is important for your financial planner to know how to use the tools available to you and make the most of them. They should be able to review your investments and find out what your current savings are worth, as well as plan out how much money you need in order for them to reach their goals. A good shariah adviser will also be able to use their knowledge in order for you get the best deals on things such as mortgages, loans and credit cards.
Should be able to assess your situation and provide you with the best plan
- Should be able to assess your situation and provide you with the best plan
- Should be able to provide you with a roadmap
- Should be able to provide you with a plan
- Should be able to provide you with a strategy
- Should be able to provide you with an action plan
Should be able to choose the right instruments for you
- Should be able to choose the right instruments for you:
- Can provide you with the best plan:
- Should be able to assess your situation and provide you with the best plan:
- Must be able to use these developments in your advantage.
Conclusion
In conclusion, a Shariah financial planner should be able to understand the market and use it for your advantage. The market is volatile but with the right tools and knowledge, you can manage risk and have a higher chance of success.
Source: 5 Qualities Your Shariah Financial Planner Should Possess
