4 articles tagged “Purification”

The KiwiSaver first-home withdrawal is the largest riba-free deposit source most Kiwi Muslims have. The eligibility rules, the Kainga Ora second-chance test, purification of the balance, and how it fits a halal purchase.
AE Investor publishes its purification as a 0.34% fund expense. If you invest DIY, that same duty is yours, and the methods for calculating it genuinely differ.
The contributions flowing into KiwiSaver are clean. The one genuine riba leak in the pipeline is small, specific, and disclosed, and you should know exactly where it is.
Every New Zealand Muslim banks with a conventional bank, because there is no other kind. Here is how to set up your accounts so little or no interest accrues, and what to do with the cents that slip through.