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.
The BMG BullionFund and the BMG Gold BullionFund have been endorsed by the Islamic Financial Advisory Board (IFAB) as a Shariah-compliant investment as of April 26, 2012. To learn more about the IFAB and its scholars, please do so by going to www.islamicfinanceboard.com.
This now makes BMG one of Canada’s largest Shariah-compliant mutual fund companies. Inshallah we look forward to being able to offer you innovative products to meet your investment objectives in accordance with Shariah law.
To view Endorsement Letter - 2009
To view Shariah Compliance Review - 2012
For more information on BMG Funds and BMG BullionBars please fill in the Information Request Form or email us at: firstname.lastname@example.org