Oraan Wealth

Introducing Oraan Wealth

We made money simple for our loyal Savers with our trusted flagship product Oraan Committees. Now, with the introduction of Oraan Wealth, we want to make growing money simple too! 

For years our Savers have asked for more, so finally we introduce to you, Oraan Wealth,  an investment platform through which you can invest and grow your wealth. Initially, Oraan Wealth will allow Oraan members to invest in mutual funds and we are excited to help you along this journey!

Our first Oraan Wealth product is a halal, low-risk and easy investment solution.

Investing in Mutual funds

Investing is now easy

 

  • Globally, investors use mutual funds as a preferred mode of investment to help achieve their financial goals. Mutual Funds allow for an easy mechanism for investors to grow their investments.

  • At Oraan, we understand our customers' needs and intend to offer selected products which we feel will best serve them.

  • Mutual Funds are professionally managed by qualified experts who try to ensure that investors make competitive returns and get to see their portfolio’s  grow.  We are confident our product offering will be suited to your needs.

  • Via Oraan’s platform we have made investing in mutual funds even easier and intend to make all your investment needs available on our app.

Our First Product for you!

AL-AMEEN ISLAMIC CASH FUND managed by UBL Fund Managers Ltd.

A halal and low risk fund for you!

Objective:

Al Ameen Islamic Cash Fund aims to provide investors with a competitive rate of return by investing in low risk securities such as Islamic Bank Deposits & Ijara Sukuks offered by the Govt of Pakistan.

The fund is managed by one of Pakistan’s leading Asset Management Companies, UBL Fund Managers Ltd.

 

Features:

  • It is Shariah-compliant ( Halal )

  • Invests in short-term securities. For example, Ijarah Sukuks, Islamic Bank Deposits etc.

  • Profit is earned daily on the amount invested in the fund

  • Low volatility and low risk for Investors

  • Clients receive money within 24-48 hours of filing a redemption

  • Money can be redeemed in partial or in whole

  • All transactions can be done via the Oraan app

  • Fund Offers a Fauri Paisa Feature* (allowing for instant redemptions - T&C Apply) 

* Through the 'FauriPaisa' facility, the investor can redeem a maximum amount equivalent to 60% of the current balance from any single eligible fund per day subject to a cap of Rs. 200,000 and a minimum amount of Rs.1,000. This limit will be available for 24hours of a single day expiring on 12 am in the night, subject to there being sufficient number of Units to his/her credit.

Fund Charges:

  • Front-End Load:  None

  • Management Fees: Up to 5% of the Gross Earnings subject to a minimum fee of 0.02% of net assets.

  • Other details are available in the Fund Manager Report and the Fund’s Trust Deed and Offering Documents available via the link below.

Additional Documents: 

For detailed additional documents of Al Ameen Islamic Cash fund please visit the following link

https://www.ublfunds.com.pk/individual/products-services/al-ameen-islamic-cash-fund/

 

How to open an account

  • Open the Oraan App

  • Click on the Oraan Wealth button at the top of your homepage

  • Submit Required Information

  • Your account will be opened within 48 Hrs

ORAAN WEALTH - FAQs

About Mutual Funds

What is a mutual fund? 

A: mutual fund is an investment that uses money pooled from many investors to invest in stocks, bonds or other types of investment. They are managed by a fund manager who is an expert in the market. The objective of mutual funds is to generate returns for investors.

Why use mutual funds to invest?

Mutual funds are a popular way to enhance financial growth. They offer a hassle free mode of investment where professionals manage their money and pass on the gains to investors.

What is Net Asset Value (NAV)?

The price of a mutual fund is known as its Net Asset Value, or NAV. As the value of the fund increases, so does the price to purchase shares in the fund (or the NAV per share) and vice versa.

What are Capital Gains?

When a fund sells a security that has gone up in price, this is a capital gain. (And when a fund sells a security that has gone down in price, this is a capital loss.) Most funds distribute any net capital gains to investors annually.

What is the general structure of mutual funds?

Mutual Funds are operated by Asset Management Companies (AMC). The AMC launches new funds through  the establishment of a Trust Deed, entered between the Asset Management  Company and the Trustee. This is approved by the SECP.

What is a trustee?

The Trustee performs the functions of the custodian of the assets of the Fund. The trustee ensures that the Fund Manager takes the investment decisions within the defined investment policy of the mutual fund.  

 

How do I open Account

What Is The Eligibility Criteria For Online Account Opening?

Any individual with a valid CNIC, email ID and mobile number can open an Oraan Wealth account.

 

How Can I Open An Oraan Wealth Account 

Open our app, click on Oraan Wealth, submit the basic required information and press submit. Your account should be open in 48-72 Hrs.

Are There Any Charges On Investment Or Account Opening Services?

All Mutual Funds charge a management fee and a front-end load. The fund offered via Oraan Wealth ( Al Ameen Islamic Cash Fund) at present does not have a front-end load. Oraan charges no additional fees to its customers. 

Fee Schedule of Al Ameen Islamic Cash Fund https://www.ublfunds.com.pk/individual/products-services/al-ameen-islamic-cash-fund/

 

How To Make Investment and Redemption Requests

How do I make Additional Investments into my fund?

Login to your Oraan Wealth account, Click on the Invest money button, Enter your desired amount and select your bank. Click on “Next” button then verify your OTP via sms/whatsapp and copy the generated Reference number. Follow the steps mentioned at the end of the screen. 

 

How do I withdraw my funds?

Login to your Oraan Wealth account, Click on the redeem button and Type the amount which you wish to withdraw from the fund & Press submit. The amount will be transferred to your account within 48 Hrs.

 

How do I view my Account Statement?

Login to your Oraan-Wealth account, Click on view account statements. 

How do I check my Account Balance?

Login to your OraanWealth account. Your account balance will be reflected on your home screen.

Halal/Shariah Compliant Investments

What is a Shariah-compliant / Halal Investment?

Shariah-compliant investments are governed by the principles of Shariah law . Shariah-compliant funds are considered to be a type of socially responsible investing. They are managed by a dedicated team to ensure compliance  and  are extensively monitored by the esteemed Shariah advisors.

 

How is it regulated?

Funds must follow a variety of rules, including investing only in Shariah Compliant securities. These companies appoint a Shariah board, carry out an annual Shariah audit and purify certain prohibited types of income, such as interest (if any), by donating them to charity.

Is there any Fatwa for it?

Click on this link to learn more https://www.ublfunds.com.pk/individual/wp-content/uploads/2019/08/Al-Almeen-Funds-SAB-Fatwa.pdf  

Q:- Will Zakat be deducted from my investment?

Yes, Zakat will be deducted unless Zakat Exemption Declaration Form (CZ-50) / Zakat Affidavit is submitted