Muslim Investors

[HaileyBailey]

Some Western banks are now creating a new investment opportunity geared towards Muslim customers. They claim that it is all Shariah complaint equaty and that it is supported by fatwah issued by a number of prominent muslim scholars. They claim Stocks are selected from the Dow Jones Islamic Market Index avoiding haram sectors, such as arms, alcohol and pornography. However, this shariah compaint high growth investment sounds too good to be true. What do you guys think?

[Advo]

Soma Western banks are now creating a new investment opportunity geared towards Muslim customers

I stopped reading after that sentence, it's always bullshid, waa another dress.

[General Duke]

Some Western banks are now creating a new investment opportunity geared towards Muslim customers. They claim that it is all Shariah complaint equaty and that it is supported by fatwah issued by a number of prominent muslim scholars. They claim prnography. However, the this shariah compaint high growth investment sounds too good to be true. What do you guys think?

Well, it all depends on fatwas issued by legit scholars. Clearly, Muslim scholars on the payroll of governments such as Egypt's Tantawi doesn't qualify as a legit scholar. Muslim scholars in the West do not generally qualify as legit scholars, because they aren't independent as they can't practice or preach true Islam. The other thing, I seriously doubt a legit scholar would issue a fatwa in favor of this sort of investment. Why? For one, a legit scholar would encourage investment in Muslim countries rather than Western banks or countries. Personally, I think it's a scheme meant to bring back Muslim investments in the West. I don't think it's a scheme that's gonna work.

[HaileyBailey]

"slamic finance and Islamic banking is a regulated activity within the Qatar Financial Centre. The QFC Regulatory Authority has developed a rulebook governing the activities of licensed companies providing Islamic financial services. These rules allow for either wholly Islamic finance and Islamic banking institutions or Islamic windows for [b]conventional financial institutions[/b]. The QFC Regulatory Authority is a member of the Accounting and Auditing Organisation for Islamic Financial Institutions, based in Bahrain, and the Islamic Financial Services Board, based in Kuala Lumpur

[Executive]

The Scholars on Shariah board of those banks and financial institutions earn in excesses of $1million per year.

Scholars for For Dollars, Say No More!!!

[General Duke]

The Scholars on Shariah board of those banks and financial institutions earn in excesses of $1million per year.

Scholars for For Dollars, Say No More!!!

True. A legit scholar leads a modest and humble lifestyle.