IslamicFinance.de

With the registered retirement savings plan (RRSP) deadline on March 2nd, many Canadians are wondering and worrying about where to invest their money. An RRSP is registered with the Canadian government. In effect, it's a special bank account used to save up for retirement. This account is made up of investment products, such as stocks, bonds, and mutual funds that allow savings to grow over time. It's up to individuals to choose what investment products to have in their RRSPs. Unlike regular investment accounts, money inside an RRSP is tax-sheltered, meaning that it doesn't get taxed like regular income or investments. The challenge for Canadian Muslims is to know the nature of their investments to ensure their investments are halal.