Saturday, 18 May 2019

How Investors are being cheated in the name of Halal Investment or Islamic Banking?

As-salamu alaykum,

Bismillah-ir-Rahman-ir-Rahim”
Alhumdulillah, I have today started writing my blog with "In the name of Allah, the Most Gracious, the Most Merciful"all these while I was straight jumping into my writing and exposing about Ponzi Companies in India. Especially Heera Gold, Ambidant, Injaz International, Muzariba, Ajmera, Baraka, Morgenall, etc almost close to 25 Ponzi Companies including "I Monetary Advisory. But today I realized that I'm doing something wrong so have started this new habit. Inshallah will continue to do so.


I'm continuously trying to create awareness about the "Ponzi Scheme"  as well as about the "Halal Investment" & "Islamic Banking". Let me confess you all one thing, that I'm not qualified scholar or an Aalim to write about Islamic Banking as well as Halal Investment but out of my research and in-depth knowledge about "What is Ponzi Scheme" Alhumdulillah motivates me to write about if "Ponzi Scheme is Halal Investment or not". I can educate you all out of my research that if "Ponzi Scheme is an Islamic Investment" 

Whenever, I write about the companies such as Heera Gold, IMA Gold, Ambidant, Injaz, Ajmera or any other company and claim that its not a Halal Investment. All Muslim Brothers & Sisters get confused that, I'm claiming all these Ponzi Companies Heera Gold, IMA Gold, Injaz, etc are running a business of Interest that is RIBA. But my dear brothers and sisters, I'm not a qualified Islamic Banking scholar to put such a claim. My Claim of all these companies not being a "Halal Investment" is that out of my research and knowledge all these companies are running"Ponzi Schemes in the name of Halal Investment" meaning all these companies are running "Ponzi Investment schemes" 

Now, What is the Ponzi Scheme? Why do I claim that the Ponzi Scheme is not Halal Investment? 
Well this subject, Alhumdulillah I'm having in-depth knowledge about and can clearly make you understand.  A Haram Ponzi scheme is a fraudulent Investing scam in the name of Halal Investment promising high rates of return with little risk to Muslim Investors. The Haram Ponzi scheme generates returns for early Muslim Investors by acquiring new Muslim Investors. This is similar to a pyramid or MLM scheme in that both are based on using new Muslim Investors' funds to pay the old Muslim Investors.

Now tell me if, for example, You invested Rs.1000 with me and I say I'm doing Halal Business and your Investment is Halal. I promised you both profit and loss but I'm still paying you between 1% to 4% monthly return. But to your surprise you are being paid every month promptly continuously for 3-4 months upon witnessing this you introduce to one of your relative and including you make another investment of Rs.1000/- each and you both getting paid every month still between 1% to 4% without any delays. You and your relative again get more confidence in me and you start recommending others. Now my Ponzi Business starts, You all are under the impression that you have invested in Halal Business and not in a business which gives you Interest ( RIBA). 

Do You know, How I'm paying the Profits month on month which is 1% to 4% that too on time. Well to your surprise first 3-4 Months, I paid you from your own Invested money to gain your trust. Next, I started paying you from your Relatives Money and also paid your relative on time. Here, Before I could loose your trust and get my whole idea that I'm fooling you guys. You both came as a saviour and brought me new Investors and then those Investors started bringing another set of new Investors. The chain followed and the fact is that I was just rotating your own Money all these days and suddenly new investors stopped due to some or the other reason and my bad time started so as yours. My bank account became empty and soon you all realised that I was running a Ponzi Business and not the Halal Business. 

Note: An appeal to all my blog readers, Please don't get yourself confused  between RIBA (Interest) & Ponzi . Both Ponzi & RIBA are opposite. They don't have any connection between both of them. Whenever we ask questions to the Management of Ponzi Companies. They start answering about RIBA, Why don't they answer to the point if its Ponzi or not Ponzi. Why are they bringing RIBA topic? Hope by now all the readers of my blog have understood. 

InshaAllah all will understand soon.

"JazakAllahhu Khairan Kaseeran Kateeran Fiddunya Wal Akhira."

Farhan Rasheed, Muslim Blogger - Bengaluru 

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