This episode is brought to you by Muslim Matters – because Muslims matter.
Who is Monem Salam?
Monem Salam, Director at Saturna Capital Corporation, President and Fund Manager of Saturna Sdn Bhd was born in Pakistan in 1972. Raised in Texas, Mr. Salam received his degrees from the University of Texas: BA (Austin) and MBA (Dallas). He worked as Chief Investment Officer for ITG & Associates (Dallas) until 1999, then as a representative with Morgan Stanley (Dallas) until joining Saturna Capital Corporation in June 2003. He served as Director of Islamic Investing and deputy portfolio manager to the Amana Mutual Funds Trust until moving to Kuala Lumpur in 2012 to oversee Saturna’s Malaysian subsidiary. Mr. Salam speaks at Islamic finance/investment conferences worldwide, is co-author of “A Muslim’s Guide to Investing and Personal Finance,” contributes articles to leading Islamic finance magazines, and has authored a chapter on Islamic Investing in “Contemporary Islamic Finance.” In 2008, he was named one of Institutional Investor Magazine’s 20 Rising Stars of Mutual Funds.
In this episode, we discuss:
- How to get into a habit of saving money
- Advice about savings from the Qur’an and Hadith
- The different types of savings accounts for retirement (401k, traditional IRA, Roth IRA, Mutual Funds, etc)
- What makes a savings/investment account sharia-compliant
- Why is it important to invest in a permissible manner?
- Investing and saving while having debt
- How to teach your kids to save money
- Advice on how to live a riba-free life
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