UBL Hajj Savings Plan
One of the pillars of Islam is the pilgrimage to Mecca (Hajj) at least once in a lifetime. In order to perform this religious obligation or any other it is essential for every Muslim to plan accordingly.
With UBL Fund Managers, you can now conveniently plan for your religious obligations of Pilgrimage through UBL Hajj Savings Plan. UBL Hajj Savings Plan enables savers the flexibility to accumulate savings for their Hajj, Ziarat, or Umrah needs. Investors have the option of saving according to their respective requirements by choosing a contribution frequency (i.e. monthly, quarterly, half yearly, or annual) that fits them best.
About the plan
UBL Hajj Savings Plan is a medium to long-term investment plan designed to help individuals accumulate savings required to perform Hajj or Umrah. UBL Hajj Savings Plan helps generate a reasonable rate of riba free return and capital accumulation through participation in Shariah Compliant Income & Equity mutual fund scheme (s) managed by UBL Fund Managers (i.e. UBL Islamic Sovereign Fund & UBL Shahriah Stock Fund) .
The plan allows you to decide between a time frame of 1 year to 5 years (which is the recommended horizon) and based on that you would be required to make monthly, quarterly, bi-annual or annual payments as per your discretion
- This plan is ideal for clients who wish to perform Hajj or Umrah or invest on behalf of domestic workers, family members, friends etc.
- Unit Holder may also select the Systematic Investment Plan (SIP) option (invest predetermined amounts on a monthly, quarterly and bi-annual basis)
- There is no fixed holding period; the client may redeem his/her funds (partial or full) at any given time without any withdrawal charges.
- If the client wishes to redeem a certain amount of funds he/she may be required to fulfill the minimum balance requirements of PKR 6000.
- The Unit Holder may also convert the Units held in Hajj Plan based on Shariah Compliant Option into the units of any other plans being offered by the Management Company and vice versa subject to the minimum account maintenance conditions.
Features & Benefits
- Shariah Compliant
- Enables unit holders to save for pilgrimage
- Choose an investment time period between 1 to 5 years (recommended but can opt for more than 5 years)
- High quality underlying assets
- Reasonable rate of return
- Riba free returns and capital accumulation
- Diversified exposure to risk
Managed as per Shariah Law
UBL Hajj Savings Plan is managed under UBL Funds Siraj – the Islamic Investments Division of UBL Fund Managers. All investments in the plan are made strictly in Shariah-compliant instruments under the supervision of a Shariah Advisory Board which comprises of renowned Islamic scholars Maulvi Muhammad Hassan Kaleem and Mufti Najeeb Khan.