What kind of investments can we make that do not involve riba?
Something other than stocks and bonds, but something that will allow me to save money in an investment. Buying gold?
This question makes me sound rich, but to let you know I am not.
Adam:
I think maybe u dont want stocks because u are afraid they involve riba? You can own individual stocks in companies that dont deal in riba, alcohol, pork etc. There are even some ‘hala’ mutal funds now. (i think) u can also buy gold, silver, platinum, etc….real estate investments etc….May Allah make u a good profit.
February 10, 2009, 4:09 pmmajeed3245:
Now a days foreclosure houses are being auctioned in every county. Keep an eye on weekend papers, find such propterties, go and see them. If you like what you see, then participate in auction. You might get lucky and buy a house for half price. Rent it and later when houses are selling again, you sell it for profit.
……………This is a Mutual fund company that invests customes money in buying stocks of only the companies that do not involve in haram business. Investing your money in their funds will be totally halal and free of riba as they claim. Call them and ask for their prostectus. If they sound good and their investments are really in halal only business then you decide if that is what you want to do.
Open your account with stock Broker company and tell them that you want to buy stocks of companies that do not involve on interest lending, casinos, alcohol brewing companies, pig meat companies etc. - business prohibited in Islam. Look for 5 star companies according to the research of Morningstar.com You want to invest in companies that have minimum risk and average income with no debts on the company. You can learn how to find the good stocks by doing research on internet. Here is the site for you.
You can ask me questions if you don’t understand how to find the good stocks on moneycentral.com
Right now investing money in stocks of petroleum and Gas companies are more profitable than all others. Also look into
stocks of companies that are working on solar and wind energy equipment. Stocks of Honda and Toyota are good as their hybrid cars will have increased sales.
Hope what I wrote will help you.
February 11, 2009, 9:34 pm