Dear all readers,
What is your recommendation to keep 5 Mio rupees to get good return monthly and if needed some portion could be withdrawan without any penality.
Propery is long term even com. is not giving good return. To keep the money in Bank will give good return but may devalue in the long run.
Some people are suggesting to invest in any good mutual fund where capital will gain and dividend will be paid each year e.g. PPFL, JSVF, PIF,. Many banks and companies are offering mutual funds, but difficult to judge which one is ok. I came from abroad with 5 Mio and still could not find any good option from where monthly return could come. Someone told for NSS but I prefer to get profit on Islamic way. Some say BankIslami and some Meezan for the MAC scheme. I think we should also include this topic to share information and give suggestions to those who are looking venues for good investment. Financial people can give more details which may benefit to many others to follow.
Regards
Pardesi, Jeddah replied on Tuesday, April 13, 2010 04:59 AM
This has been & remain focal poit espcially for expats who send money back home for investment & also who return home for good. A lot has been discussed over the Islamic/non-islamic earnings & quoted with quranic references at this forum & can be refered. Interest in any of its form is haram and is to be avoided. Try not to remain jobless; with your whatever experience get some job or start some business. Allah will help you prosper further if you choose the right path. |
Hameed replied on Tuesday, April 13, 2010 02:40 PM
Pardesi Bhai,
I agree with you but unfortunately no job for the person over 50 yrs. No business experience and to do business with any friend / partner is nothing except to damage the relations and loose the money. One of my friend (working in Sauids) put 1 Mio in carpet business with his very close friend in Lahore and his friend phoned him that the factory has been bankcrupt and need one more million to come out of it. He denied and decided not to give him more money and will not get his original 1 Mio. So the people who are from abroad have no exception except to put their hard earned money in the place from where they could get good return which is sure not the realestate. The left is then banks or investment companies. Many people are utilizing these services and getting profit, so we need their recommendations and how they are getting monthly profit by such schemes. They should clearly mention full details so that others could decide.
Regards |
Pardesi, Jeddah replied on Wednesday, April 14, 2010 10:57 AM
Between the devil (OF LOOTERS) & the deep sea (OF FIRE).
Well don't put your eggs in one basket yet avoid interest at all. Many institutes do accept over-aged individuals OR any business started with due diligence, research & feasibilty Insha-Allah you will succeed. |
Kamal replied on Thursday, April 15, 2010 10:04 AM
AA,
Dear Brother Hameed,
"The one who is involved in the interet has declared WAR against Allah and his Rassoool, PBUH"
Pray for yourself that Allah gives you enough faith in this old age that you stay away from Interest.
It is rather ok to die of hunger rather than investing in interest and staying alive, may allah gives you courage and understanding of the basics of Islam.
Rgds,
Kamal |
