Press Releases | Thu Apr 20, 2017
We have a winner
SA Bullion is pleased to announce the successful renaming of our Halaal investment facility from ‘The BarakaGold Facility’to ‘The HasanaGold Facility’’. We were proud to bring our Halaal Facility to the market last year, and we have been gratified by the uptake by clients and financial advisers alike. We love everything about this investment product. … Continued
SA Bullion is pleased to announce the successful renaming of our Halaal investment facility from ‘The BarakaGold Facility’to ‘The HasanaGold Facility’’.
We were proud to bring our Halaal Facility to the market last year, and we have been gratified by the uptake by clients and financial advisers alike. We love everything about this investment product. We love the gold investment that we offer our clients, we love the tailoring for our Muslim clients, and we also love the name that we devised – BarakaGold.
Baraka means blessings. But not simple blessings, but the blessings that come to a man through toil and sweat. These are hard-earned blessings. BarakaGold resonated with us and we found that it resonated with the Muslim market. It has been a heart-warming success.
Unfortunately this story does not have a happy ending. Albaraka Bank saw us as treading on their turf and our choices have been to change the name of our product or fight Albaraka Bank in the High Court. As you know, court actions are expensive and perhaps more importantly, the cost in terms of time and effort is enormous. There was definitely an argument for us to defend our position, but with all things considered, we decided to change the name of BarakaGold Facility and to focus on that which is positive and life-enhancing.
We decided to have some fun, and offered a one-tenth Krugerrand to the person who suggested the best new name for our Halaal facility. After numerous emails and entries via our social media pages we established a panel which was lead by our long standing advisor Dr Yasin Dutton, Associate Professor of Arabic Studies and Director of the School of Languages and Literatures at the University of Cape Town.
The winner of the competition was Mr Zachary Sonday who suggested the name HasanaGold – we believe it is a word that combines with Gold most appropriately fulfills all the attributes that we speak of in the product brochure available here: link
‘Hasana refers to a right action or good deed. A decision to invest in physical gold over cash in the bank is a right action (Hasana) which will benefit our faith based investor community in this life and the next.’
We would like to thank our clients, financial advisors for their continued support and also thank the members of the public who participated so willingly in assisting us with this brand challenge.
We look forward to persistently confronting all our own challenges with right action and through good deeds.