Monday, September 23, 2013

Seminar Fiqh - Ibu Bapa Mithali - A review: Part 2

Dr. Zaharuddin Abdul Rahman: Fiqh Pendidikan dan Perancangan Kewangan Anak

I really looked forward for Dr. Zaharuddin's talk on financial for the kids. The world nowadays I guess it's not easy to run away from riba', and definitely not hard either.

He started with something that put me at ease almost immediately. That when we taubat, Allah SWT will replace us with new flesh and blood. Yay! :)

Then he talked about nafkah and that the best sedeqah of all is to your family member because it is considered as sedeqah wasilah (sedeqah and enhancing the silaturrahim).

He also explained about Riba Qard. It means any additional benefits conditional on the grant of the principal loan amount. Conditions are made ​​at the beginning of the loan contract. It is charged by the lender to borrow. Examples: our car loan, home loan, etc.

The additional benefits do not mean only in terms of money, but other benefits such as "If I borrow you RM 10 now, you can return it back to me next year with RM 10 but you need to help me wash my car."

The best thing about Dr. Zaharuddin was that other than saying this is wrong, he provided us a solution too. So if you want to lend RM 10 to a person today, you can benchmark it with the price of other thing such as gold. When that person returns the money to you next year, it will be as according to the gold's price. If it increases, you can get that return. If otherwise, then you have to bear the loss. But it's okay, in shaa Allah, you will get the return in the hereafter. :)

He also listed a list of islamic banking, takaful insurans and multi level marketing which I will share at the end of the entry.

Also he talked about KWSP and ASB. I guess this is too heavy for people like me to talk about since I don't have any background in financing. This is why I would suggest you to attend his talk if you have a chance too.

For me, it is REALLY an eye opener. Those things we never cared before, you know. Okay, at least I never cared before. I checked to find out my home loan, car loan, car insurance all are not islamic. On top of that, I started my CIMB more than 10 years ago, when it was still called BCB. So, my monthly salary is credited to a conventional bank.

To be honest, I'm kind of at lost yesterday. But today, with new spirit, I planned to refinance everything. Al-Ghaffar, please forgive me for being ignorant.

The QnA was overwhelming. Some asked things like "What if I worked in a conventional bank?" He said, if you mampu, find another job. If otherwise, treat it as a place to gain the experience and knowledge. And, if you're not directly promoting people for conventional banking, should be okay.

Some asked about the health insurance provided by the company, what if it is not syariah compliance. He said, treat it is a gift from the company.

Some asked about stocks and he said ok!! Yay!! Out of topic, I just bought Air Asia!!

I have so many things to share about on Dr. Zaharuddin's talk, but I truly believe I should leave the matter of financial to the expert. And that's why again, I encourage all of you to attend his talk.

He said, islamic banking does not always assure you better profit in terms of money but in shaa Allah, better profit in jannah. I strongly agree. I always look at those children whose parents are just pesawah or penoreh getah who earned so little, yet their children can go to top universities and become so succesful (the story of the next speaker, wait for my entry), must be so berkat whatever they are earning.

I'm ready to lose a little if I need to refinance, but I pray these little efforts count by the Almighty.

When You guide us to it, You'll guide us through it, in shaa Allah.

Islamic banking
1. Bank Islam
2. Bank Mu'amallat
3. Affin Islamic Bank
4. RHB Islamic
5. Am Islamic Bank
6. Hong Leong Islamic
7. CIMB Islamic Bank
8. Maybank Islamic
9. Alliance Islamic
10. Eoncap Islamic
11. Public Islamic
12. Standard Chartered Saadiq
13. HSBC Amanah
14. OCBC Al-Amin
15. Kuwait Finance House
16. Asian Finance Bank
17. Al-Rajhi
18. Bank Rakyat
19. Agro

Insurance
1. Takaful Malaysia
2. Takaful Ikhlas
3. Etiqa Takaful
4. Prudential BSN Takaful
5. MAA Takaful
6. CIMB Aviva
7. Hong Leong Tokio Marine
8. HSBC Amanah Takaful
9. Great Eastern + Koperasi Angkatan Tentera Malaysia
10. AIA + Alliance Bank
11. Ambank + Friends Provident Group PLC
12. ING Public Bank + Public Islamic Bank

MLMs
1. HPA
2. Storm Leaders
3. Score A

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