Usman replied on Monday, March 21, 2011 10:56 AM PST
I was born and raised in Lahore and now live in Canada. Everyone of us debating if interest is haram or not, please look into the dire consequences of interest.
In western countries, the major reason for recession was interest where banks would tie people in 35 years of mortgage (loan). Lets say if your monthly payment is $1000, only 150-300 goes to pay principal off, rest is interest. I completely agree with Islamic laws of no interest, and no, I have never listened to a Mullah but researched it myself quite a bit. Life is tough, only way to live it well is by following Islam.
I am still looking into the matter of stocks, I find this to be one of the most profitable yet risky investment. As far as you don't include calls, shorts (bidding), rest of the stock game is just simply exchange of stocks i.e. buying, selling like property.
To the original poster, I suggest you find a stock broker if you're able to and invest it heavily in Gold, Silver, Cooper or whichever stock you may find reasonable. If this information is too much to grasp, then I highly recommend a broker!
Thanks! |