I have already discussed about Halal Tax Saving:
Following investments are not related to tax saving but general investments I can think.
Please comment and add your suggestions so that I can update this blog article with your help.
1. Gold
Probably one of the easiest and safe investments. Steady increase in value and invest in small amounts.
Update: Added an article in detail.
Halal Ways to Invest in Gold
2. Real Estate
Now I am not talking about taking a house in a city. That is out of question for most of us who won't take loans. Am talking of taking in your native village. Cost of land/ shops/ houses has been rising all over India. So you could buy it in your village too as it will be affordable. Mind you that buy only in a place you are well known about and not some unknown place.
- Agricultural/ Non-Agricultural land
- Village House
- Shop if major road passes through village.
3. Livestock
If you live in village and can get people for the same, having your own livestock can be a good investment.4. Business of a trusted relative/ friend.
If the business venture makes profit, you get your share. If it makes a loss, you do make a loss.
But this is undoubtedly the best way.
Thank you for being so clear. This is the first blog I have found that simplifies matters instead of complicating them further.
ReplyDeleteI just read on something called Sukuk. Can you please tell me more about it?
I have invested in ICICI Prudential Long Term Growth Mutual Fund (Debt Fund), Taurus Ethical Fund & L&T Infrastructure Bond. I would like to know whether my investment is according to shariah or not. Please help me.
ReplyDeleteI have already discussed this in following links:
DeleteIslamic Shariah classification of Mutual Funds in India
Shariah Compliant Mutual Funds in India: Are they really Islamic?
Infra and Debt are 100% haram investment since they are interest based.
assalamualaikum
Deletego for tata ethical fund it is 100% shariah fund.
Influential is all that is in this blog, Cleverly built by the author.
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