Thank you

thats a mistake .....
Muslim must not involve/deal in any activities related to "haram" things/products..

btw,
ASB still give the best returns but max invest rm250k only.
so, if person got plenty of money then can channel to other fund like AHB, ASW... in order to play safe

Actually max ASB investment allowed for every bumiputera is only RM200K only

There are muslims who don't do ASB and just let their EPF stay there because you don't have much choice in that. Criticizing anyone doesn't help, if you know the right way and want to help then go and teach them the right way.

I've looked at Maybank Gold Savings Account and from what I can tell there's nothing haram with that since it allows you to keep/withdraw physical gold bullion. Can't say much about other banks though.

What's the difference compared to Sunreit, Stareit, etc

There is a choice. The saving of money in EPF is not against Shariah laws but accepting the dividends is. So reduce the dividends by using the EPF money for house purchases and computer withdrawals or whatever that EPF allows for. Why keep more money in there to earn more dividends?

How many Malays who have invested in Gold Savings Accounts actually withdraw in gold bullion? Most (if not all) prefer to get the profits in cash. Even i do. And even if they withdraw the Gold bullion, its also considered haram by Shariah law since the gold bullion is a result of profits gained which are about 15% per annum based on current prices. If ASB is haram then Gold Bullion should be the same.

Im not here to educate anybody about Shariah law. Im just not in favour of double standards especially when it comes to religious beliefs. Most ppl pick and choose which part of religion to follow when it should be all and sundry. I also think its silly to bring Shariah into every damn aspect of our lives. I think that if you really wanna do the right thing, then use the returns from interest or dividends to help the poor. Shariah law in itself is pure and encompases many important aspects in Islam. Its those so called 'religious experts' who damage the true meaning of it.

Max investment is 200K but if you include dividends then the overall limit can increase.

I have also been using some of your reasoning but somehow or rather my wife still says "no" to ASB. I even mentioned that EPF owns a bank (RHB) which is not 100% syariah compliant but she just keeps quiet.

BTW she even asks if she needs to pay zakat for her EPF (you can only pay zakat for EPF once you withdraw all of it or when you reach 55 years old).

I don't have double standards, but I do respect oher people's opinion when investing money. It's their money afterall.

anyone should answerable to their GOD..nobody can judge anybody..bumitputra cant afford to save much is ASB/ASW wat ever saving account because they barely had enuff...prices are controlled by certain ppl who gv discounts to their ppl only..

as long as u gain more than 5% or more than inflation rates, it's ok....if u put $$ in FD that gv u 2%-3% but inflation rates is high, u will gradually loose ur $$$...

EPF is for retirement saving ... and is compulsory for everybody except those government staff who opt for pension...
it is not our decision though some of the investments are not shariah compliance ...
What you can do ... calculate all the dividend ... and donate it to charity fund, poor citizen or even Baitulmal ...

let get back to topic, i've read the prospectus, there is one section mention that this is not capital protected fund yet they said the unit price is fixed at rm1.00, can anybody explain more on it?

Same thing like ASB, ASW2020 etc.

i dont get it, mind to explain more

I do hope that PNB will launch more new fixed price funds for sale in the future, which is also applicable for the non-bumis too..

Really envy la, really want to buy this kind of fund, but as a chinese, i cannot invest into it..

Hope for the best in 2011 onwards for more such opportunities..

How is it they have RM500k their ASB when the max is only RM200k?

You can have 500k ... or even 1 million in ASB ...
but for the dividend .. it only calculated up to 200k ...
so if you have money more than 200k .. ask your wife or your child to open a new ASB account and put your money there ...
or buy a new house, invest in other thing ... unit trust, save in tabung haji ... and so on ...

This post has been edited by kiddo_z: Dec 18 2010, 04:12 PM

No such thing. The max invested amount is RM 200K but the dividends can accumulate unlimited. Dividends are always paid out based on the your total balance regardless of the amount. There is no 200K cap on the dividends. Ive maxed out my ASB since Jan 2009 and my balance is much more than 200K. My dividends have always been based on the total balance.

The 200K is the maximum amount you can physically invest in the account. Your dividends will accumulate over time assuming you do not make any withdrawals and this is unlimited.

But i also know that there are some 'influencial' ppl who have managed to raise the maximum invested amount far beyond the 200K.

Any hints?