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Insurance is Halal!

The permissibility of Insurance is one of many hot topics that is debated regularly. Although the majority opinion is that Insurance is impermissible, some scholars argue that certain types of insurance can be considered halal under Islamic principles. The beauty of our faith is that it allows for differences of opinion. In this article we […]

5 Ways to Buy a Car without INTEREST(RIBA)!

It is paramount that we adhere to Islamic Principles in all aspects of our lives. Buying a vehicle is no exception and with prices where they are these days many are looking for halal financing options for vehicles. Buying a vehicle should adhere to the principles of fairness, transparency, and avoidance of prohibited practices such […]

Understanding Islamic Economics: Principles, Concepts, and Practices

Introduction Islamic economics is a unique system that encompasses economic principles and practices grounded in the teachings of Islam. It is based on the belief that economic activities should be conducted within the boundaries of Islamic laws, which promote justice, equity, and social welfare. This article delves into the core concepts of Islamic economics, its […]

A Comprehensive Guide to Islamic Insurance: Takaful for Muslims

Introduction The need for financial security and protection against unexpected calamities is necessary for the Muslim community. The concept of insurance aligns with Islamic principles of mutual assistance, fairness, and ethical conduct. Islamic insurance, also known as Takaful, has emerged as a Sharia-compliant alternative to conventional insurance, catering to the unique needs and beliefs of […]

Debt & Interest Devastate African Economies

Debt and Interest can cripple individuals, families, and businesses. Even entire countries have been devastated in some way shape or form through systems of heavy debt and interest. There are many examples of African countries that have been impacted by high levels of debt and interest in recent decades. One example is Ghana, which experienced […]

Do I Need Life Insurance?

Maybe you heard some co-workers talking about it. Maybe you started your financial journey and a financial advisor told you about Life Insurance. Maybe, you just bought your first house and are wanting your wife and kids to live in it in case something happens to you. All of those are good reasons to start […]

Is it Halal to Work at a Bank?

We get this question a lot. Is it halal to work at a bank? If we are talking about an Islamic Bank, of course. You can work there with no problem. If we are talking about a conventional bank that is where problems may arise. Some of the more strict scholars of Islam have outright […]

Why is our advice simple?

  Most of the time you will find us at Canadian Islamic Wealth sharing with you simple and easy ways to grow your wealth in a halal way. Many of the suggestions we have are things you may have heard before, found online and may not be all that complicated. But Why?   In our […]

A Tale of Two Insurance Policies: The Reality

If you have done any browsing of the internet in recent months/years, you have probably stumbled upon videos and articles discussing Life Insurance. Specifically the benefits of Term Insurance vs. Permanent Life Insurance. The scenario goes something like this: Imagine two friends Bob and Doug. Bob and Doug are both 40 years old and are […]

5 Tips for When Investments Go Down.

In the last few weeks, we have seen some ups and downs in the investment market. Nothing new, the market goes up at times and goes down at other times. Even though September was not a great month for investors, the overall investment market is still up 15% in 2021. Most years see gains of […]