How Should A Muslim Invest? (The Lotus Halal Fixed Income Fund)

Have you ever wondered if your investment portfolios are Shari’ah compliant? Or you find the whole investment world so confusing and so, you’ve left all your funds in a savings account?

We understand that the investment world can be intimidating to an outsider. What’s the difference between treasury bills and bonds? What are bonds, and are they better than shares?

For a Muslim, there are even many more questions because any method you choose has to be compliant with the Shari’ah (Islamic law).

These days, Muslims are becoming increasingly aware of their financial decisions, and also looking for ethical ways of investing money.

Why is Halal investment important for Muslims?

People wonder why Muslims cannot buy shares in certain sectors like everyone else, or earn interest on their money in fixed deposit accounts. Under the Shari’ah, Muslims are not permitted to participate in any economic sector deemed haram (forbidden) such as companies providing alcohol, pork, tobacco, gambling, ammunition or conventional financial services.

What can you invest in as a Muslim?

There are a number of halal investment funds provided by certified fund managers. In such funds, a lot of people pool their money together to invest in Shari’ah compliant products and instruments. The fund manager sells units of the Funds, similar to shares, to investors and unlike investing in shares, the fund manager buys back those units from investors who wish to leave the fund.  One such fund is the Lotus Halal Fixed Income Fund.

“Fixed income” refers to any investment that pays periodic, often predetermined, returns over time. For example, when a landlord leases a property to a tenant, the landlord receives “fixed income” from the tenant. When you buy machinery on credit from a supplier with the intention to pay the cost in installments, the amount owed is “fixed income” to the supplier. These types of fixed income are different from conventional interest based transactions and are considered permissible by The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).

The objective of the Lotus Halal Fixed Income Fund is to generate competitive returns in the short–medium term from fixed income investments while avoiding exposure to the risks associated with the stock market. The fund is particularly useful for investors with low risk appetite, short/medium term investment horizon and preference for ethical or Shari’ah compliant investments.

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How is the Lotus Halal Fixed Income Fund different from other fixed income mutual funds?

The Lotus Halal Fixed Income Fund is different from other fixed income funds as it will invest in wholly Shari’ah compliant fixed income securities, which are based on leasing and trading contracts. It will not invest in any interest-based securities such as conventional treasury bills or bonds, neither will it invest in any areas that are impermissible under the Shari’ah.

As Muslims, we have an obligation to ensure that our money is earned from permissible sources. Apart from this, we also have a duty to ourselves to grow our wealth. Savings may be good, but it is much better to take the leap and invest your money in funds that will yield profits for you.

What type of halal investments do you have? Share with us in the comments below.

If you are considering a halal investment plan, Lotus Capital Limited, currently has an Initial Public Offering for the Lotus Halal Fixed Income Fund and you can subscribe with as low as N5,000.

You can learn more about the Fund by sending a mail to invest@lotuscapitallimited.com or dialing 01-2914624/ 0807 709 9551.

You can watch the short video below if you feel the article is too long for you!

Love,

Haneefah.

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DIY Headboard

I’d like to say a little story before I get to the tutorial part. This post comes more like in three parts, The head board, the bed frame and my own personal space.

When I finished with my masters degree, having to be away from home for about 15 months, I came back and decided to make an empty room in the compound a bedroom. I wanted it to be a giant source of posts because I’d like to make my own cloth and shoe storage, my own bed frame, my own headboard. Almost everything. Basically I want a personal space I can experiment with and it would only be me that would deal with the consequences if any arises.

For a while, I just threw the mattress on the floor like most people do and thought about ways to make a bed frame. I wanted to use Coke crates originally and thought about that for a long time and I was worried it would easily move about on a ceramic tiled floor. Then I shifted focus to car tyres. Obviously I wanted something unique, usually, as it is with most of my creations, I google if someone has done it before, but I didn’t see any tyre bed frame anywhere. There were lots of unconventional materials used in some but no tyres. So I decided to give it a try.

You see, I got all the 12 tyres I used for free. In Nigeria, vulcanisers have tons of tyres they aren’t using. Some might want to collect a token for ‘helping’ you and that’s okay.

I brought them home, washed them (it was during harmattan when water was scarce, started to think if it was worth it 😂). Dried them and sprayed with a gold spray paint. And I ran out of it and couldn’t get another gold spray because shoprite no longer had it in stock. That explains the bottom middle one that is not spray painted. On both sides, lets just say that is a design.

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And that is it! My repurposed bed frame. There are a lot of things I can still do with (to) it.

To the Post now:
If you’d like to make your own headboard your self, here’s what you’ll be needing.

  • Thin foam
  • Thick cotton fabric
  • Strawboard
  • Pin tacks
  • Adhesive Wall tacks

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  • Cut the strawboard 10″ by 10″
  • Cut the thin foam with the above dimensions but leave an allowance of .5″
  • Cut the fabric with the above dimensions but leave an allowance of about 2″
  • Arrange the materials like below.
  • Pin the fabric in place with the pin tacks
  • Put it on the wall using the adhesive wall tacks.

Arrange them in anyway you want. Either with only one pattern or in an alternating manner.
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Reality Check: It won’t hold. The wall tack didn’t hold up for a long time at all. So, what I’ll do (because I’ve not really finished it, I would update this post later) is actually glue it on a plywood that is about 48″ in width (so that the squares can cover it) and the desired length and just put it behind the bed.

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The end.

Let me know what you think about it.

P.S. Nigerians, I did not do this project because I couldn’t afford a bed. As usual, I’m exploring the creative aspect of the project despite its crudeness, I have been putting off this post for such a long time because I do not know how the reception will be.

Love,

Haneefah.

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Nigerian Food Art

Hi everyone!

Over the past few weeks, A LOT of people tagged me in #TechMeetsArtNG competition which was being sponsored by Samsung Mobile Nigeria and Rele Gallery. So, I created the first three pieces to submit. It was actually pretty nerve racking, I loved what I made and I just wanted them to speak to the viewer as well!

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Inspired by the true African beauty, What’s cooking is Ogbono Soup. Using all the ingredients of this South East Nigerian delicacy, the portrait expresses and celebrates the beauty of an African woman and her uniqueness as a vibrant and colourful spirit. She’s a beautiful strong woman that wears her deep sense of heritage with pride.  image

This art work is inspired by Fela, to celebrate uniqueness and creativity. Qualities that reflect through my art. It celebrates a pioneer and a Nigerian icon.
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Inspired by our rich Nigerian culture which features and celebrates indigenous music and dance, the hibiscus plant (Zobo) is used in three ways, as a paint, in its droplets liquid form (Like this coke art) and the dried purple Zobo leaf on it’s own.

I first submitted Ogbono woman, two weeks ago, and made the Jollof Art while waiting for an update on the competition. The Jollof art was inspired by John Bodega tweets about fried plantain and Jollof. Since it was Star Wars Day, I decided to make something. I recorded the whole process on my snapchat, I almost gave up actually. Spent a whole day making it (05/05/2014) and planning just the day before (04/05/2016). It was really worth it as he prayed for me (on twitter) about my kitchen overflowing with Jollof and reposted it on his instagram as well! I’d love to frame it for him though.

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And since A LOT of people wanted to see it submitted as well, I inquired about multiple entries, and just went with it, with this caption:

This artwork is inspired by John Boyega as a Nigerian actor and his vocal love for Jollof rice and fried plantain. He’s the first person of color of play a stormtrooper in the Star Wars Franchise and this art work celebrates him. Everybody loves Jollof.

 

What I learnt while making these is that, although I have been making mixed media art involving food, plants and other solid items, I never fully explored Nigerian dishes/ food for my food art, the possibilities I discovered now are amazing! Looking forward to exploring the food medium more.

Love,

Haneefah.

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Milli Crepe Cake

Salam everyone!

It’s been an eventful previous week for me, I had to spend a whole day filming a documentary and interview with Reuters about hijarbie. And spent the next two days resting because it was really hard for me.

This week, after yesterday’s holiday, I’m back to the regular grind! Preparing for my trip to Turkey for Istanbul Modest Fashion Week and putting finishing touches on Hanie Collection that is going on sale soon. Also, to kickstart this week, I’m posting a birthday cake I made for my sister, Hameedah, in March.

The oven was faulty then, and instead of buying her a cake, I told her we can make a milli crepe cake for her, which turned out to be something else and me secretly wishing I had just gotten that super normal sharable-to-everyone cake.

The crepes weren’t even the problem, it was the frosting I was to use for the cake. I recommend you fast so as not to be tempted to keep consuming the crepes as they are cooking, It is like dodo. Instead of the frosting to come out looking stiff to support the crepes, it was very liquid-y and let’s just call it cream cheese syrup or sauce now.

I love the Ombre effect and had to use it in the cake to add some color and interesting look to it. Hopefully, I would try this again!

I used icing sugar, cream cheese and unwhipped cream (although I later got around to getting them whipped in the future with ijabe) to make the frosting. Wrong method, wrong consistency, wrong frosting. I would try the frosting again later. It looks like this

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If you ‘get’ it, it makes for a pretty unique cake that is delicious. Crepes and frosting is NOT a bad idea. I think my sister likes it or she hid her disappointment well, next time, we would just buy a cake. Even though I am the only one who gets a bought cake in the family, I bake for everyone else.

It can’t hold till the next day unless it is frozen, but where is the fun in that?

See you soon,

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Love, 

Haneefah.

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