NRIs given tips on investments at KTT program

Khak-e-Taiba Trust (KTT) Jeddah Center, an educational and community welfare service organization, organized an awareness program recently on financial investments for the benefit of the Indian community.
KTT took the initiative under the banner “Small Investments for a Better Tomorrow” to tell the NRIs living in Jeddah about saving money for the future through right investments.
The gathering was addressed by international financial experts K.V. Shamsudheen, director of Geojit securities India and K.L. Ravindran, financial AMFI certified speaker.
Madan Kumar Ghadiyal from Indian Consulate was the chief guest along with Mohamed Haseebullah trustee (Hyderabad KTT), Syed Khaja Viqaruddin, general secretary at KTT, Aijaz Ahmed Khan, president of the KTT, and Shameem Kausar, patron\ trustee oversees.
“A recent report by the CAG government of India stated that India tops the list of the countries that get foreign remittances from expatriates … foreign remittances from the Gulf region including Saudi Arabia happen to be the largest in this perspective,” said Khan.
“Most of the remittances are either consumed for domestic expenses or to buy real estate and other dead investments. When expatriates return home, they find it difficult to manage their domestic expenses. The reason is simple — unwise investments — unplanned retirement and above all lack of proper guidance in making your money grow and yield proper returns so as to ensure a good retired life,” Khan added. Shamsudheen and Ravindran provided the guidance for proper investments.
Ravindran explained how the expatriates could invest in share markets and mutual funds in India and Saudi Arabia to reap benefits in long term.
He said India is at the top of trading countries list when most of the NRIs face the problem of unplanned retirement and children’s education.
“We are going to talk about the steps toward solving these issues to some extent. India’s growing economy has attracted many international business investors from all over the world,” said Ravindran.
He explained the procedure of buying shares from the stock market or from mutual funds and concepts of SIP (systematic Investment plan) and SWP (systematic withdrawal plan) to reap the benefits of the investment.
“Keep in mind the investment is for those who want the benefits in the long run, not for those who want the benefits in a short period. Every investment should be for five years and more,” advised Ravindran.
Shamsudheen focused his lecture more on the disadvantages of the capitalist economy. He said capitalist economy misleads as capitalist creates desires instead of spending on needs. Importance of halal investment and buying halal shares was an important issue explained by him. He also warned the attendees against the fraud in share markets and policies.