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Islamic Funds...

Discussion in 'Money & Finance Forum' started by VA49er, Sep 8, 2008.

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  1. Sep 8, 2008 at 11:25 AM #1
    VA49er

    VA49er Full Access Member

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    Anyone invest in any Islamic Funds? I haven't yet but they appear to be kicking ass when compared to other funds. The reason being they don't invest in financials due to the "interest" problem and have thus avoided the whole financial meltdown.
     
  2. Sep 16, 2008 at 10:41 AM #2
    HollyB

    HollyB Iz Lives

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    Tell me more. I just lost my ass yesterday and need advice.
     
  3. Sep 16, 2008 at 10:51 AM #3
    chipshotx

    chipshotx Full Access Member

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    terrorists
     
  4. Sep 17, 2008 at 11:10 AM #4
    VA49er

    VA49er Full Access Member

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    These funds are like other specialty funds in that they only invest in companies that are a part of thier belief system. Islamic funds are not allowed to shares of the companies providing financial services on interest, like conventional banks, insurance companies, or the companies involved in some other business not approved by the Shariah, such as the companies manufacturing, selling or offering liquors, pork, haram meat, or involved in gambling, night club activities, pornography etc.

    The no banks part is pretty huge right now.
     
  5. Sep 17, 2008 at 11:29 AM #5
    jazzbluescat

    jazzbluescat superstar...yo.

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    Great, investing in china, now investing in Islam. Too close for comfort.
     
  6. Sep 17, 2008 at 11:34 AM #6
    Wonder Woman

    Wonder Woman Full Access Member

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    Sounds like this could be a good way for me to diversify, seeing as most of my money goes to those unapproved sources. [​IMG]
     
  7. Sep 17, 2008 at 12:34 PM #7
    VA49er

    VA49er Full Access Member

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    :confused:
     
  8. Sep 17, 2008 at 12:35 PM #8
    VA49er

    VA49er Full Access Member

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    I would of been great to diversify about a year and a half ago. I may look into one of these just for the diversification if nothing else.
     
  9. Sep 17, 2008 at 1:35 PM #9
    jazzbluescat

    jazzbluescat superstar...yo.

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    I'm sorta an isolationist at heart. As far as money goes the less I/we have to do with unfriendly, even suspect investment sources, the better.
     
  10. Sep 17, 2008 at 3:47 PM #10
    VA49er

    VA49er Full Access Member

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    What makes them suspect? The fact that they base on a religious belief? Last I checked there were no terrorist traded on the stock exchange.
     
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