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Amal Invest (YC W22)
@AmalInvest
A 🔥 investing app, designed for Muslims. Turn any fund Shariah-compliant, with just one click ✨
Financial Servicesamalinvest.comJoined May 2021

Amal Invest (YC W22)’s Tweets

4️⃣ It's a common misconception that paying taxes on your investments means you won't make any money💸 But that's not necessarily the case! In fact, in some countries, you don't have to pay any taxes on profits earned from selling stocks
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1️⃣ Contrary to what some people might think, investing in stocks doesn't have to be haram. Just make sure you're not putting your money into companies that are not compliant ⛔️ And no, investing in stocks is not the same as gambling 😐
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There are some concerns that keep Muslim investors away from the stock market: 1️⃣Investing in stocks is haram 2️⃣You need to be a US citizen/resident 3️⃣You need a lot of money to invest 4️⃣Taxes will wipe out any gains 5️⃣ It's too late for now Turns out, these are all wrong! 😲
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So what are these options? we have two popular ones: Equities 📈: When you buy shares of a company, you become a part-owner and are entitled to a share of the profits. As Muslims, we must make sure that the company is considered halal
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In a restaurant🍕, you normally check the menu before you order something. Do the same before buying stocks and check what options you have in the 'asset classes' think of it as the menu you are going to order from
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Building wealth 💰 is a skill that can be learned, but it's often under-taught. This thread 🧵 is meant to be an approachable introduction to help you start building your wealth Whether you're a beginner or have some experience with investing Busy? save it to read later 🔖
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The cheapest halal way to buy gold is...
  • Local jeweler
    47.6%
  • Gold ETF
    38.1%
  • Bank gold certificates
    0%
  • DoNT, BUy BiTkOIn InStEaD
    14.3%
21 votesFinal results
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- Air Products and Chemicals 'APD' - Corteva 'CTVA' - Albemarle 'ALB' - PPG Industries 'PPG' - PerkinElmer 'PKI' - FMC 'FMC' - Celanese 'CE' - Livent 'LTHM' - Quaker Houghton 'KWR' - AdvanSix 'ASIX' Read more here to understand the halalness of the sector
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But wait🛑 we don't want to break any Shariah laws! It's important to research the core activities and products of chemical companies before investing, to make sure they align with Islamic values. Some companies may be a little TOO reliant on debt, which is a no-no⛔️
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Halal investing in the financial sector is all about finding companies that offer Shariah-compliant products and services, like profit-and-loss sharing or asset-based financing. ⚠️Avoid instruments that involve riba (interest) ⚠️
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Muslim investors🗣️! Want to make sure your investments are as halal as your meals? Look into investing in halal food companies! It's a great way to align your investments with your values. Plus, you can still potentially earn some tasty financial returns!
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Now it is time to invest! After entering the amount you want to invest, you'll see a preview of all the orders that will get transmitted. That's it! With 1 click, you've placed 131 trades to invest in a Shariah-compliant version of VIG!
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What can Amal Invest do for you? - Build your wealth, without compromising your faith - Invest in 3,000+ US stocks from over 100 countries - Filters non Shariah-compliant stocks out so you can invest worry-free!
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