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Kshs 5m
VituVingiSana
#11 Posted : Saturday, October 24, 2009 9:59:00 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Why not sharia-compliant products? Arent they 'vetted' by muslim mullahs?

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Moshiwan
#12 Posted : Sunday, October 25, 2009 6:49:00 AM
Rank: Member

Joined: 6/25/2009
Posts: 42
i nid an investor in a project we are undertaking.....who knows,u might like it.give me a call on 0722756579.
JM
#13 Posted : Sunday, October 25, 2009 12:56:00 PM
Rank: Member

Joined: 6/23/2007
Posts: 11
jus giv th dallas to mi. i'll put them into thoroughly gd use

lethargy bordering on sloth remains the cornerstone of our investment style..
-w. buffet-
rock
#14 Posted : Sunday, October 25, 2009 4:12:00 PM
Rank: Veteran

Joined: 2/25/2009
Posts: 973
@ myself
I agree with leona and mainat; a house eg. sides of embakasi going for approx. 4.3-5m plus land eg. in ruiru is a good investment right now.

@ Mainat
I'm not an expert but I presume it applies to how myself has obtained the money.

Things may come to those who wait,but only what&rsquo;s left behind by those that hustle.
ONE WORLD
#15 Posted : Monday, October 26, 2009 2:23:00 PM
Rank: Member

Joined: 7/6/2008
Posts: 22
Location: in Kenya
I think offshore Investment is better. I am in the Middle East and the banks down here are offering lots of 'Sharia Compliant' products from 'Sharia Compliant Mutual Funds' of various types to 'Murabaha / Musharaka/ Tawaruk' and the likes. So u have lots of places to invest. But remember this does not guarantee u a cool return. there are always ups and downs. I believe one of the Islamic ruling is that 'There should be NO GUARANTEING of profits' It's believed that a business can go up or down and as such u must share the two as and when they happen...hakuna kusema nataka faida pekee!!! No way..u must b ready to share the Pleasure and the Pain which ever happen. Remember these products are called 'Sharia Compliant' not bcse the bankers want them named so lakini it's from a committee of 'SHEIKHS' (who are also appointed by the banks) that are well known in the Islamic world. the shaikhs sit and audit the transactions involved deeply and then decide on whether they comply with the Islamic sharia. So u should not fear them they are well supported by the 'Ulamas'.

BUT WHY go all that way when u have lots of 'HALAL' things to invet into? You have real estate ...ama is it haram? Find a good plot somewhere and start construction. If u have enough time then go into Biashara like a supermarket etc. If u r interested in construction then lets join hands,come up with something cool 'Sharia Compliant' and offer it to our fellow Kenyans...Pls reply here...if u r interested.



DONT'T SAVE WHAT IS LEFT AFTER SPENDING; SPEND WHAT IS LEFT AFTER SAVING.
Chaka
#16 Posted : Monday, October 26, 2009 2:37:00 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
Buying a house may be out of bounds because the developer may have borrowed cash from a non sharia compliant bank........
myself
#17 Posted : Tuesday, October 27, 2009 12:13:00 PM
Rank: Hello

Joined: 10/17/2009
Posts: 6
hi,

i am already working with my parents but would not like to expand in their business.

i would like you to give me ideas on what business to go into.

more of something to import in container loads and sell off in one week. payment can come later. i can import from anywhere. i have all the facilities available to import goods in container loads. just need the ideas.

@ all. thanks. buying a plot crossed my mind but again its a hassle taking care of a plot for soo many years
VituVingiSana
#18 Posted : Tuesday, October 27, 2009 12:16:00 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
If sharia forbids 'guaranteed' returns,then rent is haram because it is 'fixed' & agreed upon. it does not vary according to 'use'... if I go on safari for 15 days a month,I still pay for 30 days...

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#19 Posted : Tuesday, October 27, 2009 12:22:00 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
http://www.bloomberg.com...87&sid=aMNCQAnrk1ok

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericks
#20 Posted : Tuesday, October 27, 2009 3:49:00 PM
Rank: Member

Joined: 7/29/2008
Posts: 170
i think the interest issue is just a matter of defination. i once visited gulf african bank n their explanation on interest free mortgages was just the same as a normal mortgage the only difference is that they load a margin on the amount borrowed but do not call it interest. (to me its one and the same thing)

@ myself.... an innocent question,,,,,,r u sure the 5M has never ever passed through an interest bound path??? i highly doubt whether that would be practical.....

anyway a house/rental flats would pass 4 me.........


Its just me
whatever choice you make in life make sure that you can live with it.
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