Industry Screening – Companies whose core activities include the following are not permissible:
- Conventional financial institutions, which are interest based, including banks, insurance companies, brokerage and finance houses, leasing companies.
- The manufacturing, packing and distribution or sale of non-Halaal food and beverages, particularly pork and alcoholic or other intoxicating products, restaurants and supermarkets are also analyzed.
- Entertainment including cinemas, hotels, pornography, adult entertainment, publications and music, and the production or distribution or sale of such entertainment, such as television channels and radio stations.
- The manufacturing and sale of weapons or military equipment.
- Any business though not directly engaged in the above, derives greater than 5% of its income from the above.
Financial Screening – Specific financial parameters are applied to eliminate companies that have high:
- Total debt
- Cash plus interest bearing activies
- Interest and other non-permissible income
- A JSE-housed BDA account is utilized to hold the client’s assets
- Purification of Non-Permissible Income is performed monthly
- On-going investment analysis
- Personalised, monthly reporting, incorporating Market Commentary, and selected Shares Commentary
- Capital Gains Tax applies to sale of assets
Offshore Investing Implications
- R1 million per person discretionary allowance, per calendar year, without SARS Tax clearance certificate
- R10 million per person Investment allowance, per calendar year, with SARS Tax clearance certificate
- Asset Swap with financial institution