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ISLAMI BANK,

(56694)
   IQBAL
Thursday, February 11, 2010 05:05 PM 
Reply: >
dear brother i need your help,ihave 20 lake cash.i want to invest in beke islam.i can i say that profit is not sood,last year invested money in scrape metal and got loss money now idont want to invest any business and realestate.can you give me any advice,thanks.
Amer replied on Thursday, February 11, 2010 06:32 PM 

Dear Mr. Iqbal,

In my opinion it is the time now to invest only in Bank Islami to get halal profit every month and stay with peace. The property is no more giving good return on the investment. The people who are back from abroad are not able to start any business in Pakistan. So they have best option to put cash in Bank Islami which is not sood as it is not fixed according to some Muftis. Otherwise, people with good knowledge can further guide you.
Regards
A.M.BUTT replied on Thursday, February 11, 2010 10:17 PM 

Mr Iqbal,

This is the best option for the people who have less then 10 millions in hand now adays. I am sure that propertY business will remain like this for next ten years "because propertY prices rose up more than reality due tok currept banking system in pakistan. Bank started investment in realestate. people are saying the price rose up in the world but i am not mixing pakistan with other countries because they have rule and regulation .Any way now every thing coming back on trake.There is lotof reasons i can prove but this is not forum to go in long debate.
Mohammad Yousaf replied on Friday, February 12, 2010 04:42 AM 

But who is authenticating that bank Islami is a real “Islamic Product”?
Here in Gulf, Islamic bank will give you shares upon your loan request and it is up to your fate, whether you lose or gain in stock exchange when you sell for cash, as this was the main purpose you went to the bank.
In Pakistan, does it work similar? I doubt!!!

Talking about investment! No one can predict the Pakistan property in near future as it all depends now how USA exits from Afghanistan!
The post America exit situation will set investment bench marking in Pakistan property and also in corporate sector. No body knows about capital shift in that situation. Stock exchange could bring down property market or the opposite!
One thing for sure now that property will continue towards correction, which is definitely happening now!!
After USA exit, money might shift to industry as, in Pakistan history, we never had Judiciary, Army and Press all on right track and THAT could make a lot of difference, if it gets coupled with the “sustained democracy”, no matter how poor in running the contry, as it would be a " begining of a right start"
limo replied on Friday, February 12, 2010 10:17 AM 

Brother Iqbal, just go ahead with what you have decided to do.Since your intention is pure, you would surely be rewarded by Allah SWT for this and there will be enough "barakah" inshaAllah.Atleast you have rejected conventional banks for only one reason, and that is to stay away from the evil of "sood".Now coming to the question of authentication of the banks who claim to be Sharia compliant in their dealings, they are being overlooked by renowned scholars and their activities are closely monitored and approved by them.Same time lets pray the Allah SWT guides and keeps us on the right path.Ameen
AM replied on Friday, February 12, 2010 01:37 PM 

Assalam-u-Alaikum wr wb:

The literal meaning of interest or Al-RIBA as it is used in the Arabic language means to excess or increase. In the Islamic terminology interest means effortless profit or that profit which comes free from compensation or that extra earning obtained that is free of exchange

Also remember

Surah Al-baqarah verse no.275

"Those who devour usury will not stand except as stands one whom the Satan by his touch has driven to madness. That is because they say, "trade is like usury", but Allah has permitted trade and has forbidden usury",

Surah Aal-Imran, verse no.130 Allah says,

"Oh you who believe! Devour not usury doubled and multiplied; but fear Allah that you may prosper."

Hazrat Jabir radiyallahu anhu has reported that the Messenger of Allah sallallahu alaihe wasallm cursed the devourer of usury, its payer, its scribe and its two witnesses. He also said that they were equal (in sin). (Sahih Muslim)

Now you can be judge to see if these so called islamic banks really provide RIBA free products.

Remember everybody is responsible for their own actions in this world and hereafter. So choose carefully what you do with your HALAAL Rizq.

Note: I am not giving fatwa nor can I do that, I am just leveraging some knowledge which can help to make right decision.
iqbal replied on Friday, February 12, 2010 02:39 PM 

dear brothers,i am very thankfull all of you for your comments,i think now i can decide very well.wellwisher all of you,thanks.
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