Hejaz Asset Management becomes RIAA member and signatory to UN Principles of Responsible Investment
Hejaz Asset Management is now an official member of Responsible Investment Association Australasia (RIAA), the largest and most active network across Australia and New Zealand dedicated to responsible, ethical and impact investing. The RIAA currently boasts 450 members, with Hejaz Asset Management the only Islamic Fund Manager in Australia to become a member.
According to the RIAA, its network of people and organisations champions “approaches to responsible investment that align capital with achieving a healthy and sustainable society, environment and economy”.
The Hejaz team is also currently in the process of having each of its retail investor-focused managed funds certified as being RIAA compliant. These include the Hejaz Global Ethical Fund, Hejaz Property Fund, Hejaz Equities Fund, and Hejaz Income Fund.
Bolstering this commitment, Hejaz Asset Management has also been approved as a signatory to the global UN-supported Principles for Responsible Investment (PRI), joining more than 4,000 organisations around the world.
The PRI is a network of investor groups backed by the United Nations, which seeks to promote a sustainable global financial system through the incorporation of environmental, social and governance (ESG) principles. Its overarching mission is to reward long-term, responsible investment initiatives and create financial solutions that benefit society.
These social principles are at the core of Hejaz Financial Services, which aims to educate Australian Muslims about the financial alternatives available to them. By creating Halal financial products that align with their customers’ religious and ethical beliefs, Hejaz aims to encourage greater access and engagement with financial services thereby enabling Muslims to grow their wealth and achieve their future goals.
Hejaz Asset Management is publicly demonstrating its commitment to responsible investment by becoming the only Islamic Fund Manager in Australia to be recognised as a signatory to the PRI. The team firmly believes that no Australian should have to sacrifice their faith for their financial future.
After building Sharia-compliant superannuation, home loan and ethical investing products for its customers, Hejaz is now aiming to become Australia’s first digital-only Islamic Bank.
In 2021, the Hejaz team commenced a detailed application process with the Australian Prudential Regulation Authority (APRA) and they are optimistic about being granted a restricted ADI (authorised deposit-taking institution) licence. If granted, a banking licence will allow Hejaz to service even more customers and create additional ultra-ethical financial products, including Halal insurance and new Sharia-compliant credit solutions.
Hejaz Financial Services’ network of experts can simplify Halal investing and help you discover ethical and sustainable solutions for your financial future today. To find out more about the company’s commitment to ethical investing, visit the website here.