Shariah Compliance
Three principle rules need to be adhered to when analyzing a Shariah permissible investment:
- The first is the absence of interest (riba) in the investment.
- The second is the potential for 'unethical concerns' such as gambling or tobacco in the investment mix.
- The final area relates to the nature of the contract between the parties involved. Could substantial omissions exist that could result in a dispute between the parties?
The primary objective of BMG BullionFund is long-term real wealth preservation. It has a fixed investment policy of purchasing equal dollar proportions of uncompromised allocated and insured gold, silver and platinum bullion.
BMG Gold BullionFund has the same fundamental structure and security as BMG BullionFund; however, its mandate is to purchase physical gold bullion exclusively.
BMG has been endorsed by the Islamic Financial Advisory Board (IFAB) as a Shariah-compliant investment as of January 25, 2010. To learn more about the IFAB and its scholars, please do so by going to www.islamicfinanceboard.com.
With total assets of over $500 million, this now makes BMG Canada’s largest Shariah-compliant mutual fund company. Inshallah we look forward to being able to offer you innovative products to meet your investment objectives in accordance with Shariah law.
To view the Endorsement Letter
To view RBC Dexia no interest charged letter
For Shariah related financial news click here
For more information on BMG Funds and BMG BullionBars please fill in the Information Request Form or email us at: info@bmgbullion.com
