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Help I want to invest money where shall i invest? are islamic banks interest based?

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  • Help I want to invest money where shall i invest? are islamic banks interest based?

    Asalamualakum i was checking premier bonds where i was just about to put my money in i found out its haram because when u get money its interest based

    what about islamic banks if i were to invest money in islamic banks is it interest?

  • #2
    Re: Help I want to invest money where shall i invest? are islamic banks interest bas

    Investment provides a return.A return is not automatically interest.

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    • #3
      Re: Help I want to invest money where shall i invest? are islamic banks interest bas

      http://ethiscrowd.com/
      وَالْعَصْرِ

      إِنَّ الْإِنسَانَ لَفِي خُسْرٍ

      إِلَّا الَّذِينَ آمَنُوا وَعَمِلُوا الصَّالِحَاتِ وَتَوَاصَوْا بِالْحَقِّ وَتَوَاصَوْا بِالصَّبْرِ

      "If Allah (swt) only sent this Surah to us, for the guidance of Mankind, this will be enough for us” - Imam Shaafi'ee r.a.

      "Yeh dunya daar e faani hain, Tum apna dil mat lagaon, Ganimat samaj zinadagee ki bahar, aana na hoga, yahaa baar baar......"

      Khanqah Habibiyah

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      • #4
        Re: Help I want to invest money where shall i invest? are islamic banks interest bas

        I looked at few different options for investment over the years. Many obvious options are forbidden for us.

        But as sister Jenicca shared, real estate is great investment option. This is the one I choose as I was able to get a mortgage from Islamic finance & get a rental property. I also looked into Amana Mutual Funds where they buy stocks of companies that are consider Halal. I have not invested with them yet but will in future.

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        • #5
          Re: Help I want to invest money where shall i invest? are islamic banks interest bas

          Originally posted by Kya View Post
          I looked at few different options for investment over the years. Many obvious options are forbidden for us.

          But as sister Jenicca shared, real estate is great investment option. This is the one I choose as I was able to get a mortgage from Islamic finance & get a rental property. I also looked into Amana Mutual Funds where they buy stocks of companies that are consider Halal. I have not invested with them yet but will in future.
          Yeah. There now seems to be Shariah Indexes and Indices in the major stock markets of the world. Alhamdulillah.Muslims are catching up but there's still more work to be done. A lot of Muslim funds gets squandered away and put to inefficient use. It's like rich monkays bieng given remote controls. Bananas. :-/

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          • #6
            Re: Help I want to invest money where shall i invest? are islamic banks interest bas

            Originally posted by Chained Rider View Post
            Yeah. There now seems to be Shariah Indexes and Indices in the major stock markets of the world. Alhamdulillah.Muslims are catching up but there's still more work to be done. A lot of Muslim funds gets squandered away and put to inefficient use. It's like rich monkays bieng given remote controls. Bananas. :-/
            Yes mashallah there are options for us now. But it is so hard to find information on Islam & finance. When i looked and I am still trying to understand, it is very hard for me to find much reading material. Most muslim are not educated in this area to provide help aside from pointing out everything is haram. I would love to hear what other muslim are doing to build wealth and invest.

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