Walton’s Investment Products Now Shariah-compliant
The Walton Group of Companies, a multinational privately-owned real estate investment and development group focused on land investments in North America, announced that its investment products have been endorsed by the Financial Shariah Advisory and Consultancy (FSAC).
Mr Gary Tom, President Asia of Walton International Group, said: “We are pleased that our investment products received the endorsement of Pergas. This is important as some of our clients are Muslims and they can now be reassured that our investment products are Shariah-compliant.”
“It is noted that Pergas has a strong Middle East network and this is an opportunity for Walton to also offer our investment products in these countries in the future,” he added.
PIH is the business arm of Pergas which is the Singapore Islamic Scholars and Religious Teachers Association, and a non-profit organisation that has an influence in the Muslim community for many decades.
The Muslim community has placed their trust in Pergas when seeking counsel not only in their daily and religious affairs but also advice on investments. Ustaz Mohamad Hasbi Hassan, Chairman of Pergas, said: “There is an increasing demand by the global Muslim community for Shariah compliant investments. In Singapore, the Shariah compliant investments available in the market are limited. The Muslim community in Singapore has been victims of investment scams and Pergas is aware of the issues surrounding such scams. It is our aim to not only educate the community but to ensure that any investments that we endorse should have a proven track record. We feel the need to protect our community from such scams and by such endorsement, it is also our way of performing due diligence.”
As one of North America’s premier land asset managers, Walton takes a long-term and disciplined approach to land development and real estate investment.
As a result, its strategically located land-based assets have historically been able to provide distributions to its clients while creating communities that will stand the test of time: hometowns for present and future generations.