Question
Which Islamic investment products are permissible to invest in?
Answer
Our advice is that you should refrain from investing in the so-called 'Islamic' investment products offered by the Riba banks. Riba is the very life-blood and breathing of all conventional capitalist banks. Even 'Islamic' banks such as Albaraka and Oasis are dealing in haraam Riba which they camouflage with Islamic terminology. It is best to invest in gold coins. People who had purchased gold coins just three years ago have made huge profits. The riba banks do not pay profits of such large amounts. The interest they pay, is a lousy percentage.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 21 No 02
- PDF page
- 2
Appears under Questions and Answers (approximate).