Dear members,
I came from Saudi Arabia and settled now in Lahore. I have saved 6 Mio. I spent 6 months to search what business I can start. I failed to find any business because of no experience and dealing of the people. Every one is looking fraudulent and no henesty. My relatives giving many options to start with them but I know that at the end I will loose all. They are now asking to give some money as loan and can get when I start the business, I refused to give to anyone although they are angree. I do not want realestate as it is long term investment.
My question to ask from all of you is that where can I keep this amount to get some profit monthly for my home expenses. Some one told me to invest in mutual fund (JS/AHL) as it is not interest based and can give good return. They give the reason that your capital will increaase while dividend will also come monthly/yearly. One said to put the money in Meezan Bank with their scheme called Monthly Amdani Certificate(7 yrs plan). One said in BankIslami with their monthly saving account.
Please let me know if any one of you is getting good monthly return from any Islami Bank in Lahore.
Thanks for the information which sure will help of many other overseas who came back from abroad and are looking the same way as I.
Best regards
saeedusa replied on Tuesday, March 2, 2010 04:17 PM
Dear BR,
Never invest money in Mutual Funds because they invest in stocks too and if market goes down tehn they go down with the market too. |
MJM, Dammam replied on Tuesday, March 2, 2010 05:07 PM
In the given circumstances, if you have your own home to live in, I would suggest to invest half of your money in National Savings Center and get monthly income to run your personal family affairs. Never give big loan to your relatives, but small amount of loan is no problem. In the meantime, try to find out a job. I am sure you must have brought with you working experience. Inshallah God will help you. |
info replied on Tuesday, March 2, 2010 05:20 PM
One possible option might be to purchase a older Safari Villa for about 4 million and rent it out but the monthly rent is probably not enough.
Extract from LRE Ad.
"Bahria Town Lahore 8 Marla Safari villa For Sale ready to move in or get 19000 thousands rent per month.Asking Price 41 Lacs." |
Reman replied on Tuesday, March 2, 2010 05:21 PM
Although I have no experence but understand with part of this amount you can open a small poultry farm. Having someone for time being untill you learn yourself how to run it.
May be I am wrong, comments are welcome. |
Zamil replied on Tuesday, March 2, 2010 05:58 PM
Tariq shahib,
You should spread your amount across various assest classes. You can put some amount in debt oriented mutual funds (they don't invest in stocks and are relatively safe). Both JS/AHI Income funds are OK. You can invest in NSS (as suggested by MJM) or can deposit in bank and at the same time, you can invest some amount in RE too (safri villa or something similar).
Good Luck. |
Assad replied on Tuesday, March 2, 2010 06:04 PM
AOA
Tariq sahib best option is, buy two 5 marlas Safari Villas and enjoy monthly rent with appreciation of your property...
Assad
|
Qaiser replied on Tuesday, March 2, 2010 06:07 PM
Dear Tariq sahib, I am in the same boat like you except that i am still abroad. Looking to invest my retirement money to get regular monthly income. Real estate rental income is good but some time tenant give hard time while commercial real estate is very costly. Bank's income involve interest I do not know about the Islamic banks.
Any way if you come some thing better please inform me. Can I have you contact number or E-mail Address?
All the best,
Qaiser |
NN replied on Wednesday, March 3, 2010 01:17 AM
Dear AD,
You must be paying monthly condo fees as well.
Please mention the condo fees.
In my opinion, I totally agree with MJM, Dammam.
I am already doing NSS to run my brother home expenses.
These days you get per month Rs.1190/for one lakh deposit.
Thanks, |
Alam replied on Wednesday, March 3, 2010 02:45 AM
AoA, I was in the same situation. I purchased agricultural land and I am having reasonable income, it is the best investment, safe and secure would lead to generations. Price appreciation is also ok but not as good as in real estate, but no risk is involved. I am enjoying the land. |
Asad replied on Wednesday, March 3, 2010 05:20 AM
dear brother please do not invest in AHI (arif habib investments) I, have suffered he(arif habib) is the biggest thug you can come across.Please do your own research it is the best way |
wheretoinvest replied on Wednesday, March 3, 2010 05:22 AM
Alam : How much you invested and how much return you get monthly aproximatly ?
Why you say no risk ? if no rain etc.. cant it be no risk ? |
AD replied on Wednesday, March 3, 2010 10:43 AM
Hi
I don't want to start the debate again but in my opinion all incomes from bank and national savings etc. fall under "interest" or "sood" or "haraam" and therefore it should be avoided.
Allah will give "Barkat" in whatever less money you will get from elsewhere Halal sources. |
ZIA MIAN replied on Wednesday, March 3, 2010 02:32 PM
Dear Tariq! I don't know what sort of work experience you obtainted during your stay in KSA. Anyway prposal of Br.MJM Dammam sounds reasonable that you try to find a job for yourself. In my opinion 'investment' & 'business' carry different meanings.Business essentially needs investment but it may not be so the other way round. If are a well educated person, then I think running a schhol is the best business. |
Javaid replied on Wednesday, March 3, 2010 04:19 PM
@Asad,
Can you share your AHI investment experience with us. It'll be helpful for other viewers of this forum. Infact, I myself have invested some amount with them.
Regards |
MUHaider replied on Thursday, March 4, 2010 01:49 AM
Dear Alam Bhai, AA
Can you please share your experience of agri land as i am myself very interested in this. Where did you buy, how much, how long the process to purchase, how to rent it out or you farm it yourself,what about the horrors of villagers occupying your land etc. If you like i would like to contact you to get some ideas. I am in Lahore for a few days. Thank you and wish you the best in farming. If you wish pl contact me at . |
