Dear IMANA Members

Asslamoaliakum. 

I am pleased to announce that IMANA is rolling out a Retirement Plan Program for firms with one or more IMANA members.

An IMANA Multiple Employer Retirement Plan Trust has been created, which will be overseen by a committee of association members.  BPAS will serve as directed trustee and will administer all plans that elect to participate in the Trust.  We anticipate that Ashraf Elghandour will serve as Registered Investment Advisor.  In addition to a standard suite of institutional funds and a brokerage window, the menu of investment options includes the MIZAN Fund, a Shariah-compliant Collective Trust.  The MIZAN Fund (TICKER: MZM10) is sub-advised by Lightstone Capital Management, and monitored by the IMANA trust committee.   

BPAS currently administers 2,500+ retirement plans, with 250,000+ plan participants; and its trust company services $6 billion+ in plan assets. Through a team of regional Sales Relationship Managers, BPAS works with over 190 financial intermediaries across the Bank Trust, Registered Investment Advisor and Broker Dealer channels. Other BPAS companies include Harbridge Consulting Group and Hand Benefits & Trust Company, providers of actuarial and institutional trust services, respectively.   

 I believe this service offering from our Association combines the economies of scale for investment product, fiduciary services and plan administration pricing, with well established principles of religious accommodation in the workplace.

We will have this product discussed in our upcoming Uzbekistan meeting. Mr. Elghandour will be present to discuss this new and very exciting opportunity,    which is available only to IMANA members. 

Shukran,

Khalique Zahir MD, FACS
IMANA President