Community News

Soon, a school to teach Islamic investments

Mumbai: An academy will soon be set up to educate Muslims about investments in various financial sectors, including stock exchange, capital market and banking in accordance to the principals of Sharia (Islamic law). Pragmatic Wealth Management Pvt. Ltd, a Mumbai Central-based firm which gives guidance on how to manage wealth according to Islamic laws is coming up with an academy where educated youth will be encouraged to seek employment and do business in the financial sector where participation of Muslims at present is shockingly low. “Our experts and faculty will educate youth on the Sharia-compliant companies where investment can be done. We are in the process of finalizing the feasibility of such a project,” said Imtiaz Merchant, managing director of Pragmatic Wealth Management. “The need for trained professionals on Islamic finance is dire because globally, it is becoming an acceptable mode of investment. And there are enough opportunities for individuals trained in Islamic finance and banking,” said Dr M Y Khan, chairman, Pragmatic Wealth Management, and a visiting professor to several reputed organizations, including International Monetary Fund (IMF).