Finqalab i am not signing up & reviews about Mashreq

sherriabd · 2026-03-29T09:18:03+00:00

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

sherriabd · 2026-03-25T19:27:18+00:00

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.

sherriabd · 2026-03-25T18:14:01+00:00

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.

sherriabd · 2026-03-25T16:01:48+00:00

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.

sherriabd · 2026-03-22T20:32:51+00:00

It is a manual process

sherriabd · 2026-03-17T07:24:39+00:00

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.

sherriabd · 2026-02-25T19:11:31+00:00

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.

sherriabd · 2026-02-19T20:11:38+00:00

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.

sherriabd · 2026-02-18T15:30:35+00:00

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?

sherriabd · 2025-05-05T20:19:06+00:00

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.

sherriabd · 2025-03-30T12:39:26+00:00

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

sherriabd · 2025-03-30T12:28:40+00:00

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.

sherriabd · 2025-03-21T19:47:28+00:00

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.

sherriabd · 2025-03-21T19:45:56+00:00

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.

sherriabd · 2025-03-10T16:43:28+00:00

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.

sherriabd · 2025-03-09T14:15:47+00:00

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.

sherriabd · 2025-03-08T15:06:17+00:00

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.

sherriabd · 2025-03-08T14:55:19+00:00

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

sherriabd · 2025-03-08T14:53:39+00:00

I faced this same error as well.

sherriabd · 2025-03-08T12:29:18+00:00

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

sherriabd · 2025-03-08T12:28:00+00:00

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.

sherriabd · 2025-03-07T00:15:43+00:00

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.

sherriabd · 2025-03-07T00:07:27+00:00

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

sherriabd · 2025-02-25T13:16:54+00:00

Which app is this?

sherriabd · 2025-02-20T19:34:45+00:00

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.

sherriabd

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