Hmm, from reading the article, I thought my dyslexia came into play when I read "ethnically" as "ethically". The article name is incorrect, but the sentences within the article are... maybe I am thinking too much and missed the point. Anyways, about the Evil Corporations, how do you know if they are evil or not when you're trying to "invest" in them! So, instead of Evil banks, go to a Credit Union... the article mentions Impact Investing, invest in environmentally, socially, government, responsible funds. Link: https://www.msn.com/en-us/money/savingandinvesting/how-can-i-ethnically-invest-i-don-t-want-my-money-going-to-evil-corporations/ar-AAWpw2S
It’s normally hard but thankfully there is a simple medical procedure to solve this. After you have the procedure, you simply hover over the numbers or stock tickers or corporate listings - and you’ll simply be able to feel if they’re evil or not!
In 3 words - Do Your Homework. Much more informative article here answers it pretty well. https://www.nerdwallet.com/article/investing/ethical-investing There are plenty of others. A simple - and lazy - way to get info is ask Google: "How can I tell if a company is ethical and responsible before I invest."
I also like the Islamic approach to ethical investing. I took a course in Islamic Banking and finance a while ago. They have a list of prohibited businesses - ones not for investment by Muslims. Alcohol, gambling, weapons and quite a few others - pork products, etc. Certain business activities are prohibited - it is forbidden to invest in a corporation that makes any significant part of its income from lending at interest. A company does not qualify for Islamic investment if it owes more than 30% of its capital. Also, speculation or gambling is not an allowable business activity, hence dealing in futures etc. is not permitted. They don't deal in interest, but there is a form of security commonly referred to as "Islamic Bonds" - the sak (sing.) sukuk (pl.) The payments made to the investor are not deemed interest - they are considered a portion of the profits made by the underlying assets. These investments have been widely issued in recent years and there are now mutual funds available dealing exclusively in sukuk. It seems to me that intelligent, enterprising investors, looking for ethical, responsible investments might do well by combining what they see as the best facets of both Western and Islamic investment systems.
Johann, could you share which class that was? A friend and I might be interested in taking it. Personally I also find the way that Islam law response to the idea of insurance to be interesting.
Yes, Takaful, the Islamic financial process similar to insurance, is indeed interesting. It's in the course. I took the course through alison.com. The teacher was Mr. Almir Colan, who teaches the subject at LaTrobe University (Australia). He was great. Cost was minimal. You pay extra if you want the cert. I did. Still inexpensive. Highly recommended.
I definitely am going to look into taking this. Looks like there is a second one on Islamic financing and banking. I'm not sure if it's taught by the same person/group though.
