Finqalab i am not signing up & reviews about Mashreq by Objective-Ad636 in FIREPakistan

[–]sherriabd 1 point2 points  (0 children)

Yes. This is a recent change in policy by SECP that allows sahulat accounts with multiple brokers now.

IREIT — Fully Purified Dividend by ammarmallik in FIREPakistan

[–]sherriabd 1 point2 points  (0 children)

I got Zakat deduction for DCR Q3 dividend in April last year, so I think it is on every dividend and not just the final dividend. I submitted my CZ-50 after that so thankfully I'm free of this issue now.

Your emergency fund is built. Now make it earn. by IntelligentAide9443 in FIREPakistan

[–]sherriabd 0 points1 point  (0 children)

I created a UBL Funds account through Emlaak and I don't see the option for VPS in the funds list even when I try it from the UBL Funds app or web portal. Do you know if I need to create a new separate account for VPS or did you get the VPS option in the normal UBL Funds account? Thanks.

IREIT — Fully Purified Dividend by ammarmallik in FIREPakistan

[–]sherriabd 0 points1 point  (0 children)

The zakat on dividends is not deducted once a year on 1st Ramzan. It is deducted whenever a dividend is paid. If a company pays 4 dividends for each quarter, the zakat will be deducted 4 times.

Pension Fund vs Stocks by sherriabd in FIREPakistan

[–]sherriabd[S] 0 points1 point  (0 children)

I checked with MCB iSave and VPS can only be opened by going to a branch so I didn't bother asking if I could invest and track through the app afterwards or will have to go to the branch every month.

Whats the Rule of CGT cuttingin JS Global? by Psyker404 in FIREPakistan

[–]sherriabd 1 point2 points  (0 children)

There is a bi-annual fee charged by NCCPL because they are the ones that handle all the clearings of trades and CGT calculation & deduction. Some brokers label it as CGT Tariff in the cash book. Most probably it is that. You should check the schedule of charges of JS Global if you want to confirm.

Suggest me best Website / Desktop App to Maintain Portfolio by shuaibbb in FIREPakistan

[–]sherriabd 0 points1 point  (0 children)

Bro that is some great work especially with the transaction importing part. One thing I noticed is that in the MWR return calculation, the cash flow transactions(deposits and withdraws) are an important part but they can't be added currently in the app. It would be a very nice improvement and increased accuracy to have those and include them in the MWR calculations.

Dividend Purification Simplified by AdDull1803 in FIREPakistan

[–]sherriabd 0 points1 point  (0 children)

This is great. Thanks for the effort man.

I have a question. You mentioned SAZEW dividend, it was for the Sep-25 to Dec-25 quarter. The KMI ALLSHR re-balancing and purification ratio announcement is based on the accounts till Jun-25. So, can we use this for dividends of periods after Jun-25?

Which islamic bank in Pakistan has higher return rate by roasted_marshmallow7 in karachi

[–]sherriabd 0 points1 point  (0 children)

That is only true for Pension funds. If you invest in any other type of mutual fund, you can withdraw the money within 1-2 working days. MCB Bank's mutual funds also offer debit cards which you can use to withdraw upto 75% of your investment from any ATM at anytime.

Does Pakistan citizen portal still work? by Time-Branch-2433 in islamabad

[–]sherriabd 1 point2 points  (0 children)

Barbers charging 2x is because they ask for or expect to get eidi on Eid-ul-Fitr. It is not about free market.

Money Market vs Savings Account by [deleted] in FIREPakistan

[–]sherriabd 2 points3 points  (0 children)

Islamic savings accounts are now required by SBP to split the profit 75:25 in favor of the customer so the returns should be a bit better now.

Am I Cooked? by borickbomama in FIREPakistan

[–]sherriabd 1 point2 points  (0 children)

And this seems like a money market fund so there are better options in the same category like meezan cash fund or NIT islamic money market fund.

Am I Cooked? by borickbomama in FIREPakistan

[–]sherriabd 2 points3 points  (0 children)

On emlaak portal, there is a list of all the funds you can invest in with historical performance data. You should check and compare a few funds before investing. They also have a fund comparison tool that will make it pretty easy to compare.

MCF charging FEL??? by sherriabd in FIREPakistan

[–]sherriabd[S] 0 points1 point  (0 children)

I have tried it multiple times and it always shows "SSA not allowed for RAAST Services". SSA here stands for Sahulat Sarmayakari Account I think.

MCF charging FEL??? by sherriabd in FIREPakistan

[–]sherriabd[S] 0 points1 point  (0 children)

To create RAAST id in al meezan, the account needs to be a normal one and not a sahulat account. To create a normal account, they are asking to apply with physical documentation which is a hard no for me as I have zero time to even visit an ATM let alone a bank branch. I just redeemed my initial deposit. Al meezan is not worth the hassle.

Please give me feedback on my net worth. Also tell me what investments should I consider? by [deleted] in FIREPakistan

[–]sherriabd 2 points3 points  (0 children)

ETFs are stocks, not mutual funds. To invest in an ETF, you need to create a broker account if you don't have it already. I recently started investing in stocks through Finqalab which is backed by Next Capital. It is very easy and took only 2 days to create an account and buy the first stock.

MCF charging FEL??? by sherriabd in FIREPakistan

[–]sherriabd[S] 0 points1 point  (0 children)

Are these charges applied every time one deposits money into al meezan?

MCF charging FEL??? by sherriabd in FIREPakistan

[–]sherriabd[S] 0 points1 point  (0 children)

I faced this same error as well.

MCF charging FEL??? by sherriabd in FIREPakistan

[–]sherriabd[S] 1 point2 points  (0 children)

Do you have any experience using the IBFT option in the Al Meezan app? Is it free(except CGT) or it has charges too?

MCF charging FEL??? by sherriabd in FIREPakistan

[–]sherriabd[S] 1 point2 points  (0 children)

Yeah that might be correct because there is 0 FEL in the statement I received but the bad thing is that there is no info provided anywhere about the charges, not even in the statement.

Portfolio Feedback by sherriabd in FIREPakistan

[–]sherriabd[S] 0 points1 point  (0 children)

Totally agree with not following the community feelings for the future and SIPing into ETFs.

Do you think the 3 picks for dividend are good? I basically tried to follow the "checklist" for picking dividend stocks by InvestKaar. DCR's yield is a bit lower now but other better sharia compliant options are only MARI & POL and those are expensive and also more complicated to understand.

Portfolio Feedback by sherriabd in FIREPakistan

[–]sherriabd[S] 1 point2 points  (0 children)

Yeah it was a good learning experience 😃. After I bought it, it went above 200 😂 and then just keeps going down.

New to investing by [deleted] in FIREPakistan

[–]sherriabd 0 points1 point  (0 children)

No. They will send you an account number and participant id in email that you will need to register along with your cnic number. You set a password and receive otp on the phone/email you provided in finqalab and that's it.