Shariah compliance concept requires considerable effort to implement, since much attention must be paid to compliance with the Shariah principles, both at the fund operations level and for all underlying investments. Shariah-Compliant funds are prohibited from investing in companies which derives income from the sales of alcohol, pig products, pornography, gambling, military equipment or weapons. And at operational level, there are a set of rules around investor contract, interest payments, profit distribution etc. which requires detailed consideration.
Noor Group Projects are carefully designed and tweaked as necessary to ensure Shariah compliance at all times. Adherence to Islamic values is one of the most significant priorities of both investors and the management.
The Noor Group Projects are selected for having qualities such as:
​Although pulling out an investment midway through the project may be possible (with a profit penalty) investors are encouraged to discuss their plans prior to project initiation. Projects have been split into phases to provide further flexibility to the investors and maximise their return.
Liquid assets are goods that can be easily sold, usually for a profit. Zakah for liquid assets is due only once in the Zakah-year and fit all the other conditions of any other zakatable wealth.
The amount of liquid asset at a given time (usually during Ramadan) can be calculated on an investor's request. The investor's share of the liquid asset amount will be conveyed in a timely manner to assist in their Zakah calculation.
Superannuation investors can invest in Noor Group Projects with full confidence that it meets all Australian Taxation Office regulations with many existing investors preferring this option. The process involves three simple steps:
Create a Self Managed Super Fund (either through own accountant or one of our recommended accountants)
Roll-over from existing superfunds
Transfer the amount to Noor Group Project's bank account as a standard internet bank fund transfer.
Noor Group Project's vision is to meet the needs of clients and help them achieve their goals. They tailor products to meet the a client's specific needs which occurs through open communication and transparency.
Major gateways and significant decisions have previously been made through consultation with key investors, builders and other experts and will continue for future projects. This is based on a strong belief that there is significant value in involving investors in discussions for a better project outcome.
For investors requiring financial reports Noor Group Projects has an existing process to cater for their needs. Several of our current investors are businesses or Self Managed Super Funds and require this report therefore it has been made available in a timely manner.