Thursday, January 14, 2010

Investing In ASB

The initial part of this year is not turn out to be what I planned as some of my experimental methods trying to generate side incomes from the internet turn out to be not as good as I expected. The problem using dot info domains as Google For Domain are really terrible with the average outcome less than a penny a day. The impressions are slowing down. Thank god other things just turn out the way it is, better.

ASB is one of the main source of income that can be generated by local bumiputra in Malaysia. With the fix amount of profit which is more like an annuity, it is something that people really hold on to it. 8% and above is rather a high percentage for it. I've joined it because the Majlis Fatwa Kebangsaan has said that its harus and due to that, I have no doubt about it any longer, at least for the time being until the next Majlis Fatwa Kebangsaan which I don't know when.

The argument about the status of ASB has been brought out due to the place where ASB has been invested but its not an argument any longer because of the recent MFK. Its rather ironic because the SC still decided not to put ASB under halal and islamic finance because of some reasons that can be find just by go Google.

There are two major ways to invest in ASB. The first one is making a loan. Many has done this, by making a loan and stored them in ASB, they will get the profit annually. Its more like saving by owing. For now, not many banks accept this because of its halal status still under argumentation therefore don't try to as CIMB because their syariah's department rejected this method. Maybank for now accept it.

The second one is of course your own deposit. You can stored you money inside ASB and it will grow there. The problem for muslim is that calculating your zakat later on. Its also not that easy to withdraw from ASB because only a few banks have their agents and ASB does not provide cards.

Well, now that you know how to invest in ASB, take a closer look and think what's best. Till then!

P/S: There are other investments scheme that you can find such as Public Mutual, OCBC Saving Builder and lots more. Just browse the catalog!

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