I’m Muslim, can I invest?
In the Muslim community, investing is commonly seen as a taboo subject. Most people view investing as either too risky or as something Haraam. Let’s debunk that myth. The reality is that there is not enough discussion around the topic and rather than looking at investing as a way to get ‘rich quick’, it can be used as a tool to grow your wealth and achieve financial freedom.
The terms ‘day-trading’ and ‘FOREX’ are commonly thrown around, but that’s not what we’ll be talking about. In Islam, speculation and excessive uncertainty & risk are prohibited. Instead, long-term investing is encouraged and also a great way to put your money to good use, whilst allowing you to reap the benefits in the future.
Investing means to set aside money and put it into assets that grow your wealth over time. Your returns could be in the form of income payments (dividends) or capital gains (the profit you make when you sell an investme…