Author Archives: Muslim Money Guide

Giving While Living: Part II

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dr-yaqub-MirzaWe are honored to bring you this guest post from Dr. M Yaqub Mirza, President & CEO, Sterling Management Group, Inc. and author of “Five Pillars of Prosperity: Essentials of Faith-Based Wealth Building” which is available on Amazon. This article is an excerpt from his book released here in two parts. You can read Part I here.

Giving While Living: Part II

There appears to be much confusion within the Muslim community when it comes to distribution of wealth among one’s children. To begin with, while living, we must treat all of our children equally in every respect (i.e., upbringing, clothing, education, cars, marriage, and travel), and without discrimination between male and female. A child, whether male or female, has a right to sustenance, education, proper care, and being treated equally while the parents are alive. (An exception is if one child is handicapped and has special needs –therefore, this child may be given more than the others.) This principle is supported by Hadith. The Prophet asked a man who had given a gift to his son: “‘Have you other children besides this one?’ He said, ‘Yes.’ The Prophet asked, ‘Have you awarded a gift like this to all of them?’ The man said, ‘No.’ The Prophet said, ‘I am not going to bear witness to this act of injustice.’”[3] Continue reading

The Anatomy of a Stock

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If you’ve ever wanted to invest, you’ve probably heard of stocks or shares. In the simplest terms, a stock is a part of your ownership in a company. It is a claim to the underlying property of that business, namely its assets and earnings. Let’s say a company has issued 100 shares of its company. When you buy one share of that company, then you own 1/100th of that company. If the company owned only one dollar, you would own one penny of that dollar. In real world terms, what your stock or share means is you are owner of 1/100th of its debts, its assets, and its earnings. Before the internet age, this ownership was usually represented by a stock certificate. Nowadays you will hardly every see that. Instead you will see the stock appear in your brokerage account electronically. Once you own a share or stock, you are now a shareholder. Continue reading

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