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myself
#1 Posted : Wednesday, October 21, 2009 2:07:00 PM
Rank: Hello

Joined: 10/17/2009
Posts: 6
I have Kenya Shillings Five Million lying around.

I want ideas on how to invest it. I being a staunch muslim cannot buy stocks,cannot trade in stocks,deal in anything that has interest and insurance.

Advise? Plots? Business?

Myself
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mtaalam
#2 Posted : Wednesday, October 21, 2009 2:21:00 PM
Rank: Member

Joined: 11/2/2006
Posts: 519
@ myself
Please explain to some of us who don't understand the Muslim belief as regards investments,interest etc. because I believe you're also affected by inflation. How do you counter against inflation?
Q2. Is it ok to add margins on your goods so as to make profits in business?

Please forgive my ignorance.

Bright and interesting people talk about ideas.
Those of average intelligence talk about things.
Stupid people talk about other people.
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Chaka
#3 Posted : Wednesday, October 21, 2009 2:42:00 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
How does investing in stocks earn interest?May be investing in banking stocks as the profits from which dividend is paid would partly come from interest?
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Ali Baba
#4 Posted : Wednesday, October 21, 2009 3:33:00 PM
Rank: Member

Joined: 8/29/2008
Posts: 573
I think business or a residential house /apartment would do.

Ali Baba
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Kamaa
#5 Posted : Wednesday, October 21, 2009 4:35:00 PM
Rank: Veteran

Joined: 10/6/2007
Posts: 1,177
Location: Nairobi - Kenya
Buy a matatu..

When you run so fast to get somewhere,you miss the fun of getting there... Life is not a race,so take it slowly....
When you hear what I say, you will not understand. When you see what I do, you will not comprehend
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mdosi
#6 Posted : Thursday, October 22, 2009 6:10:00 AM
Rank: Member

Joined: 2/1/2007
Posts: 112
Location: Nairobi
@myself.
You can invest in offshore sharia compliant products which are secure and have impressive performance. In other words the products are HALAL.

Drop me a mail @ franklin@wananchi.com
or
Call 4441123/4442285 and ask for Edward.



Feel the fear but do it anyway.
It's amazing what you can achieve when you get rid of fear.
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myself
#7 Posted : Saturday, October 24, 2009 6:33:00 AM
Rank: Hello

Joined: 10/17/2009
Posts: 6
@mdosi...thanks but i still feel there is interest involved in all those investments...
@chaka and mtaalam....example you buy stocks of carbacid or safaricom - all their businesses involve interest and insurance activities and buy buying their shares i am contributing to helping them do that....
all our busineeses run atleast 70% on cas...we buy on cash and sell on cash...there are times when selling is done on credit but all our purchases are cash...
margins / profits is not interest as you have worked hard for it to earn that money....
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leona
#8 Posted : Saturday, October 24, 2009 9:14:00 AM
Rank: Elder

Joined: 8/1/2008
Posts: 1,432
Location: Marsabit
@Myself
Eh,didnt know that about muslims(the stocks part)... What about if you buy a house and earn from the rent then?with 5m you can get yourself one.. I must say,your religion is pretty tough!

Advice is what we ask for when we already know the answer but wish we didn't..
Nevermind what haters say, ignore them til they fade away - Just live your life
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Mainat
#9 Posted : Saturday, October 24, 2009 9:22:00 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
@myself,sio kwa ubaya,but do you buy gas cylinders or electricity? Si both providers earn interest on your payments?

In any case,try land. Best investment by miles in Kenya. Currently...



www.mjengakenya.blogspot.com
Sehemu ndio nyumba
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Kamaa
#10 Posted : Saturday, October 24, 2009 7:16:00 PM
Rank: Veteran

Joined: 10/6/2007
Posts: 1,177
Location: Nairobi - Kenya
ama you make donations...

honestly,i dont know how to help you..

When you run so fast to get somewhere,you miss the fun of getting there... Life is not a race,so take it slowly....
When you hear what I say, you will not understand. When you see what I do, you will not comprehend
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