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Answers with Tag: investment

Is the difference of 20 in price between cash and installment considered interest and therefore impermissible in Islamic trading?

Can One Use a Lifetime ISA (Individual Savings Account) To Buy a House?

Limited Partnerships

What Should I Do about my Haram Investments?

Can I Work as Software Developer in the Investment Bank?

Can a Single Mother Distance Herself from Her Abusive Adult Children?

Zakaat based on Conditions

Taking on Investors

Getting Income on a Loan

Health Insurance

Can I Donate My Savings as a High School Student Who Doesn’t Earn Yet?

Please give a brief regarding Islamic banking?

In Islam is guarantor needed in any investments as investment will be either loss or profit. There are people saying that the guarantor will have to pay the amount if the investment failed and there is a loss.

My friend cheated me and others by saying he has an investment of huge sum of money and declared himself bankrupt. I recommended others to join as investors and he paid me for each person about 200 or so. I did it as a job. I already filed proof of debt in our country’s department. I did not know that he is cheating us. 5 years had passed and the bankruptcy department said no news about him. My question is must I make a police report and will Salat Hajat help me to know about him. Please advise, I just want to know about him before I die.

My friend asked me to invest. I did so. He asked me to recommend others. I did. Now he has cheated all of us and disappeared. Those whom I recommended are harassing me for money. I am in total depression and have no peace of mind. They are accusing me, some even calling me a conman. I am performing many prayers to overcome this problem. I am very, very sure I didn’t cheat anyone. But I can’t take the accusation. I beg ALLAH for forgiveness if I’m in the wrong. Four years have passed, but I am still in depression without peace of mind. Please advise. Do I need to pay all those I recommended?