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Purifying Your Wealth

[Event has ended]
Sat, 15 August 2020, See details for timing | English

purifying, wealth, riba, mortgage, estate, loans, investment, cpf, credit, cards

Fees: $15 per session or $30 for all 4 sessions

As we live in a secular society our day to day lives may revolve around RIBA. Despite the educational awareness happening over the years, many have still not taken any action to counter or eliminate RIBA.

Firstly, let's begin to understand what is Riba?

Riba is a concept in Islam that refers broadly to the concept of growth, increasing or exceeding, which in turn forbids interest credited from loans or deposits. The term 'riba' has also been roughly translated as the pursuit of illegal, exploitative gains made in business or trade under Islamic law, akin to usury.

In Surah Al-Bakarah, Ayat 275-279, Allah SWT describes RIBA heavily on this on the matter. Please look it up.

In ayat 275, Allah SWT says, “Those who consume interest cannot stand [on the Day of Resurrection] except as one stand who is being beaten by Satan into insanity.”

And in ayat 279, Allah SWT says, “And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged.”

The stand on RIBA in our lives is quite clear that we should not even get involve in it. However as we live in secular society, we cannot avoid it and this was mentioned by our Prophet Muhammad SAW.

Narrated by Ibn Isa, and recorded in Abu-Dawood Hadith #3325, Prophet Muhammad SAW said,
“There will come a time when you will not be able to find a single person in the world who will not be consuming riba. And if anyone claims that he is not consuming riba then surely the dust of riba will reach him.”

No matter what we do or how we try to avoid it, it is clear today the Hadith mentioned above has become a reality. Every single one of us today cannot escape it.

Can we prove this?

1. If you are working in Singapore and employers pay you CPF, CPF will pay you interest on the monies in your CPF account. Is the interest paid considered RIBA?

2. If you open a conventional bank account to place some deposit or save some monies, usually the bank will pay you interest on it. Is the interest paid considered RIBA?

3. When you buy a residential property in Singapore with a loan from HDB or bank, is the interest paid on conventional home loans fall under the definition of RIBA?

So does that mean, that when we cannot escape it, we just leave it be?

What will this seminar address?

There will be 4 sessions to this seminar and each session will address different issues and the steps to Purify Your Wealth.

In the first session, we would like to create more awareness about the different types of Riba. For your knowledge, there are about 70 plus types of Riba that exists now. And don't be surprise that it is evolving. Why is it growing? Usually this is driven by “Greed”. The greediness of individuals and the quick rich schemes that is ever evolving.

The second session will cover the biggest asset any Singaporean can own. Your property. With housing prices growing to hundreds of thousands today, is it ever possible to take a loan without RIBA? Or is there any possibility of us getting out of it faster especially for the lower income folks?

The third session will go into detail about money on the individual level and money on the community level which also means we will talk about the money in your bank, CPF, investments ( big or small ), high purchase and more. There are many solutions around this however for most common people, you may not be aware of the solutions. 

Example. Did you know that you have a compliant syariah loan for cars and renovation in Singapore?

And lastly in the last session we would talk about debts. There is no use talking about if you cannot tackle or handle your debts especially those who are stuck in the cycle. It is a very vicious cycle and the current systems is not very merciful when you cannot settle loans. Especially now when pandemic occurs, more jobs will be lost and people are borrowing. There is a possibility that the economy will recover very slowly and this may make it even worse.

Do you want to know more? Let's go into deeper then.

Session 1 by Ustazah Surina - What you need to know about RIBA?

- Understanding RIBA and how it became to what it is today. Not just locally. But globally.
- Let's go back into history. RIBA exists way before Prophet Muhammad saw time and Allah swt sent down the verses to solve this issue.
- However as we know it is not as simple as that. As long Iblis and Syaitan are in the game to make us go astray, there will always be new development of new Riba programs.
- Now how do we cleanse our wealth?

Session 2 by Mr Shamir (Mortgage Advisor) & Mr Moztafa (Real Estate Investor)

- Your Biggest Challenge: Unlike our neighbours in Malaysia and Indonesia, there is no Islamic home financing product in Singapore. Find out WHY it is challenging to have this option in Singapore?
- Your Biggest Purchase: How do you choose appropriately?
- Your Biggest Liability: Sustaining your property loans: How do you manage efficiently?
- Your Biggest Dream: Is it possible to fully pay up a property without taking on a loan?

Session 3 by Zaid Masagos and friends

My Money, Your Money and our Community money
- The Greedy and the Glut-ten
- Money in my bank.
- Credit Cards vs Debit Cards or even PayNOW?
- CPF and how do I calculate the interest
- Investment and Insurance

Session 4 by Zaid Masagos and friends

Your Debts, My Debts and the Communities Debt
- This session is linked to the 3rd session
- From the first session to the third session, one of the main issues of RIBA revolved around loans and debts which causes compounding interest.
- Strategies to get out of loans faster and not get people back into debt.


Purifying Your Wealth
( 2 Days Seminar - 4 Sessions On Zoom )

Venue: Online
Registered participants will be invited into the Zoom sessions.
Do download on your device if you have not done so.
Do check your email for the link an hour before each session starts.

Date: 15th & 16th August 2020

Session 1: Understanding RIBA and how it became to what it is today
15th August 2020, 9.30am to 12.30pm
Fees: $15

Session 2: Your biggest Asset in Singapore
15th August 2020, 2.30pm to 5.30pm
Fees: $15

Session 3: My Money, Your Money and our Community money
16th August 2020, 9.30am to 12.30pm
Fees: $15

Session 4: Your Debts, My Debts and the Communities Debt
16th August 2020, 2.30pm to 5.30pm
Fees: $15

For each session, participants will be given separate Zoom links.

If you wish to attend all sessions, the fees will be $30 ( 50% discount ).
Members attend all sessions at $20 only.

* Participants will receive notes to this seminar.
* Powerpoint slides are subject to Presenters approval for download.
* Participants are not allowed to record the session via screen grab, etc.

Terms & Conditions
- Full Payments are to be made before the Seminar starts.
- NO REFUND for participants that fail to attend the Seminar. Ensure you can commit to the event timings.
- Participants will be given Notes. You will have to download from the link given during the session.
- The organizer has the right to make changes to the schedule or cancel the seminar. Participants will be informed in advance for changes.

How to Register?
- Scroll to the bottom

How to make a payment?
Bank Transfer / Debit Card / Paypal / PayNow/Paylah

– Click register below
Step 1: Choose the quantity
Step 2: Fill in your details
Step 3: Choose your mode of payment and proceed with payment.

Our HOTLINE @ 9231 7430 operates during office hours.
Our office hour is from Monday to Friday, 10.30am to 6.30pm.



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