KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL
FANews
FANews
RELATED CATEGORIES

Old Mutual Shari'Ah - Compliant fund wins international Islamic finance award

18 September 2019 Old Mutual Investment Group
Saliegh Salaam (pictured in the middle), receiving the GIFA award on behalf of Old Mutual Investment Group

Saliegh Salaam (pictured in the middle), receiving the GIFA award on behalf of Old Mutual Investment Group

The Old Mutual Albaraka Balanced Fund has been awarded the Best Islamic Balanced Fund 2019 by the Global Islamic Finance Awards (GIFA) at the GIFA awards ceremony held in Cape Town on Monday, 16 September. The GIFA Awards has become a highly coveted, market-led recognition of excellence in Islamic banking across the world.

Saliegh Salaam, Portfolio Manager at Old Mutual Investment Group, says that he and his team are honoured to receive the accolade from GIFA. “The GIFA awards is one of the most highly sought-after Islamic banking and finance accolades in the world, highlighting that the Old Mutual Albaraka Balanced Fund and Old Mutual’s Shari’ah compliant fund range are world-class investments.”

The Old Mutual Albaraka Balanced Fund offers investors a Regulation 28-accredited ethical investment solution that delivers steady, long-term capital growth to meet client retirement needs. “We are also guided by Old Mutual Investment Group’s Responsible Investment policy that encourages us to integrate Environmental, Social and Governance across all our investments,” says Salaam.

The GIFA winners were selected on a 25-point system, which considered product innovation, the breadth and depth of the product, the provision of products and services that have transcended international borders, and the promotion of growth in the industry.

According to GIFA, their awards are a prestigious label of excellence that recognises governments, institutions and individuals who have exhibited outstanding achievements in their respective fields, contributing to the sustainability of Islamic banking and finance as a viable system within the global international financial architecture.

The Old Mutual Albaraka Balanced Fund is a collective investment scheme established in partnership with Old Mutual and Albaraka Bank, explains Salaam. “Old Mutual is one of the oldest financial institutions in South Africa and Albaraka Bank is the oldest independent Islamic Bank in the country, and this award attests to our collective expertise and our efforts toward achieving excellence in this sector,” he concludes.

Quick Polls

QUESTION

How to give affordable and appropriate financial advice to the low income market segment. There is little room on a R50 pm policy for advisers to be remunerated for the time it would it would take to educate & fulfil admin function. What is the solution?

ANSWER

[a] Eliminate non-advice sales / telesales
[b] Implement industry standards for non-advice information
[c] Introduce an insurer-funded pro-bono advice network to low income earners
[d] Reinforce the Policyholder Protection Rules
fanews magazine
FAnews November 2020 Get the latest issue of FAnews

This month's headlines

Customer experience in the ‘now’ generation
Is our industry a tainted industry?
How to keep brokers out of the firing line
Getting to grips with contractual versus delictual liability
International trusts and tax consequences
The COVID-19 pandemic and medical schemes
Subscribe now