A Winnipeg-based company is touting itself as Canada’s first halal investment firm.
Last year, Jesse Reitberger and Sheraz Ali co-founded Canadian Islamic Wealth, an wealth management company that solely practises halal investing — a form of investing that aligns with values from Islamic law.
Reitberg, a financial investor for nearly 10 years, came up with the business idea while working for a national bank. He had converted to Islam in 2014 and was trying to help members of the Muslim community finance their futures — but he was having trouble.
“Muslims are prohibited from investing in ways that compromise their values,” said Reitberger, CEO of Canadian Islamic Wealth.
“I kept getting into conversations with people who said, ‘I can’t invest with you because your investments don’t align with my values.'”
Reitberger took classes in Islamic finance and is now certified in that field. But he was still having trouble gaining Muslim customers while working for large firms, because it seemed like the interests of the firm and those of the client seldomly aligned.
Information Radio – MB7:39One Winnipeg-based investment firm is offering the first halal-style investment option for people who care that their wealth management portfolio is selected in ethical ways.
Making choices that secure your financial future can be intimidating. Making financial choices that also make you feel good, does that even exist? Can values and money-making really go together? One Winnipeg-based investment firm believes that values and wealth management can work together. Jesse Reitberger the CEO of Canadian Islamic Wealth tells Marcy he has created halal-style investment options for his Muslim clients. 7:39
Canadian Islamic Wealth — which claims to be the country’s first firm focused solely on halal investing — allows Reitberger to comply with Sharia beliefs and the values of the customer, he said.
Halal investing prohibits investors from putting money toward from anything that deals with interest, such as some bonds and mortgages. It also prohibits investing in companies that profit more than five per cent from something non-permissible to Islamic values, such as tobacco, weapons, or alcohol.
Investors could put money into stocks of tech companies like Apple or Microsoft, for example, but might avoid Air Canada because alcohol is served on flights, said Reitberger, adding that his company also screens for excessive amounts of debt and accounts receivable.
‘Investing with their conscience’
Paul Bates, former professor and a semi-retired corporate adviser, is not surprised to hear of a firm devoting itself to halal investing, but does find it “quite innovative.”
Since the 1970s, many investors have been screening companies to learn more about their activities, Bates said. But right now there is an even greater focus on a company’s environmental impact and social responsibility, and there are many banking systems looking for ways to issue halal bonds.
“More and more people, regardless of whether they are of Muslim faith — or any other faith for that matter — are starting to really think about investing with their conscience as well as with their pocketbook,” he said.
“I’m not at all surprised to hear that a firm has decided to focus entirely on this matter, particularly as our country becomes more multicultural and also very much aware of environmental, social and governance matters.”
Bates is unaware of another firm that focuses on halal wealth management, he said.
Reitberger notes that his firm is not exclusive to the Muslim community. Anyone who likes the notion of ethical considerations when choosing investments is welcome.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
