The Product. PNM Ekuitas Syariah is an opened Mutual Fund (Reksa Dana) in the form of Collective Investment Contract that is offered by PT. PNM Investment Management as Fund Manager and The Hongkong and Shanghai Banking Corporation Limited (HSBC) as the Custodian Bank. PT. PNM Investment Management publishes general offering of PNM Ekuitas Syariah up to 500.000.000 (five hundred millions) investment units. The investor can buy a minimum investment unit by Rp. 500.000,- and maximum not more than 10.000.000 (ten millions) investment units or 2% of total investment units offered.

The term “takaful” is derived from its Arabic root word “kafala” which literally means “to guarantee”. In term of usage and implication, the term “kafala” certainly denotes the agreement by one party to indemnify another for any liability that has been pre-agreed upon¹. Takaful in islamic finance is the term used to describe insurance that is compliance with the Shariah or islamic law. Takaful operators (insurers) then have to conduct their business in a way that is shariah-compliant by avoiding the three prohibited elements (al-Riba, al-Gharar, and al-Maisir) that will make the operations void. The easiest part is to avoid riba, by investing the takaful fund in non-interest bearing instruments.

The Product. Takaful Al-Waqi Investment Linked Plan is an Islamic SIP launched by Maybank on July 2008. It is the shortest term single premium investment-linked islamic commodities funds of RM 200 million. Takaful Al-Waqi combines Shari’ah compliant fixed income and investment instrument structured to generate better returns, higher than that of a 12-months General Investment Account (GIA) or other Fixed Deposit Account rates. Takaful Al-Waqi as a closed-end investment-linked Takaful plan is managed by Etiqa Takaful Berhad (formerly known as Takaful Nasional Berhad).

There are so many kinds of SIPs in investing world today as alternatives of investment to choose. Like other investors, Muslims also look for any SIP to add to their portfolios. But, surely they will never take a SIP except it is Shari’ah compliant¹². It means the SIP have to be free from anything prohibited by islamic law, whether its structure, features, business process, or the product itself. SIP with Shari’ah compliant must be free from riba (interest), gharar (speculation/ manipulation), and maysir (gambling) transaction.

“Rumah adalah tempat dimana kita membina keluarga ini,” kata saya pada istri tercinta pada suatu hari di pertengahan 2005, empat tahun yang lalu. “Tempat dimana anak-anak tumbuh dan dibesarkan. Alangkah indahnya jika mereka dibesarkan dalam lingkungan yang bersih dan menentramkan.”

Istri saya tersenyum. “Aku setuju, Mas. Tidak hanya makanan dan minuman mereka yang harus bersih dikonsumsi, halal dan thayib, tetapi juga rumah, tempat yang dibangun untuk mereka tumbuh dan dibesarkan.”

Originally the term “to invest” means to make use of something for future benefits or advantages⁶. In finance and business, an investment is an asset purchased for profit or return, whether via income, capital appreciation, or some combinations⁷. Investment is one of assets allocation strategies in wealth management. It is often called “the hearth of wealth management” because the preposition of wealth management — that gives opportunity to the wealth to grow — can be effectively performed⁸.

Any investment decision implies some risks¹. It can be anything, either related to its product or market of the product. For example, in real estate or property investment, the investor will get an opportunity to generate maximum return when the market was booming. On the contrary, when the market went down, the investor who invests on their properties will be possible to lose out instead of getting minimum return. The same situation occures on the stock market.