BELLINGHAM, Wash.--(BUSINESS WIRE)--Saturna Capital Corporation is proud to announce significant enhancements to its Shifa Health Savings Account (HSA), designed to meet the specific needs of Muslim investors. By integrating Islamic Investment Principles into its offerings, Saturna Capital provides a tailored HSA that aligns with religious beliefs while maintaining top-tier industry standards.
The Shifa HSA offers Islamic-compliant mutual funds, typically avoiding speculation. Additionally, to avoid riba (interest), the debit card associated with the spending account does not accrue interest.
In addition, the plan provides a simpler, more effective experience for accountholders with an enhanced emphasis on:
- A list of highly rated mutual funds with no investment minimum appropriate for the Muslim investor
- An intuitive user platform for easy investment selection, payment of qualified medical expenses, and expense reimbursement
- Modern account features and benefits, including effortless receipt record retention
- A Spending Account that delivers the stability and benefits accountholders expect from a top-tier plan
Saturna has been a trusted provider of Health Savings Accounts (HSAs) for decades and recently earned accolades from Investor’s Business Daily as one of the top 12 Best Health Savings Account Providers for 2024.
“We have a long history of providing compliant options for Islamic investors, and our HSA is no exception,” stated Jane Carten, President of Saturna Capital. "Overall, our HSA offerings reflect input from our customer base in two key areas: enhancing our Spending Account features and flexibility and refining our Investment Account. Saturna Capital selects investments in companies that to its knowledge do not violate the requirements of the Islamic faith at the time of investment. To ensure that investments continue to meet the requirements of the Islamic faith, Saturna Capital engages Amanie Advisors Sdn Bhd, a leading consultant specializing in Islamic finance.
The Shifa HSA is a tax-advantaged savings account designed to help accountholders save and pay for qualified medical expenses. Individuals participating in a Qualified High Deductible Health Plan can enroll in the Shifa HSA to benefit from tax-free contributions, tax-free earnings, and tax-free withdrawals, among other advantages (to learn more, visit Saturna’s online guide to its Shifa HSA).
About Saturna Capital Corporation
“Active investing to reflect your values”
Saturna Capital Corporation, established in 1989 in Bellingham, Washington, USA, is a private, employee-owned investment adviser with US$8.9 billion in assets under management as of June 30, 2024. The company provides investment advisory services to mutual funds, institutions, businesses, individuals, and endowments. Saturna Capital is adviser to the Amana Mutual Funds Trust, the oldest and largest family of funds in the US that follow principles of Islamic finance. Saturna Capital also advises the US-based Sextant Mutual Funds and Saturna Sustainable Funds.
