Saturna’s Monem Salam Featured in AramcoWorld Article on Islamic Investing

September 1, 2022 – In the AramcoWorld article “What’s So Resilient about Islamic Finance?” Trevor Williams quoted Monem Salam, Saturna Capital’s executive vice president and portfolio manager, on the qualities of Islamic investing.

Williams’ article consulted several finance professionals and academics regarding Islamic investing principles including “eschewing interest, investing in tangible or productive assets, sharing both risk and upside through partnership and showing concern for one’s community.”

“Equity investing in stocks and mutual funds also fits naturally into the Islamic ethos of partnership, but it has taken a few decades for Islamic scholarship on the topic to catch up with modern markets,” said Salam. “It became a matter of coming up with thresholds that will allow you to still invest and have a diversified portfolio.”

“Finding investment targets has grown easier with enhanced reporting requirements and online search capabilities,” Salam continued. “This is partially responsible for the relatively rapid growth of Islamic investing as a sector since the 1980s, when Amana was helping to pioneer the space.”

Monem Salam is portfolio manager of Amana Income Fund and Amana Developing World Fund. Established in 1986 as the Amana Mutual Fund Trust’s flagship fund, Amana Income Fund is the oldest American mutual fund designed for Muslim investors. Amana Developing World Fund was established in 2009.