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| India-Pakistan |
| Muslims duped in the name of religion |
| 2007-02-18 |
| BHOPAL: A Madhya Pradesh company has duped many Muslims in the name of religion by promising profit instead of interest, which is prohibited in Islam, and then vanishing into the blue. Since interest is an offence in Islam, Wisdom director Mohammad Omar had convinced community members to invest in his company, which he said dealt with agriculture products and tractor financing, to earn profits. "I invested Rs.80,000 in Omar's company over a year ago. Three months back when I asked him for my share of profit, he gave me a cheque that bounced. Later when I went to his office and residence, I found both the places locked," said Iliyas Hussain, who has lodged a police complaint. Mohammad Abdul Rehman, who sold land to invest Rs.650,000 in the company, and Zahid Khan, who put in Rs.300,000, also visited Omar's office and residence but in vain. "Investigations so far have revealed that Omar came here with his family from Rajasthan, rented a house and opened an office in the main MP Nagar locality. He then contacted the Muslim community and impressed people of rich families to invest before running away with their money," said D.S. Baghel, Shahjehanabad police station house officer. "The police have recorded statements of the victims and are investigating the matter," he said. This is not the first time that Muslims here were duped in the name of religion. Earlier, an investment company - Al-Fahad Investments Ltd - with a registered office in Mhow, Indore, and a corporate office in Jamia Nagar, New Delhi, run by one Hamud Siddique had soaked up millions of rupees. "Muslims are not in the mainstream...and the government, too, does not help them. Due to religious restrictions, they can neither take loans from banks to start some business nor can they give loans to anyone since both involve interest, which is an offence in Islam," Muslim religious leaders had said five years ago. "Let the whole community join hands and invest our money at one such place where we would get profit (not interest) without violating religious barriers," the maulvis, imams, qazis and hajis had appealed then. With branch offices all over India, including Noida, Aligarh, Lucknow, Ujjain, Ratlam and Burhanpur, Al-Fahad Investments had operated through maulanas and maulvis. The 10,000 to 15,000 families here who had put all their money, about Rs.500 million, in the company now find themselves without it. Some of the Bhopal gas leak victims also invested their compensation amounts awarded in damages following the world's worst industrial disaster that occurred in December 1984. Raees Ahmed Ansari, who had taken voluntary retirement from the Bharat Heavy Electricals a few months ago, said: "I invested Rs 845,000, the money I got after my retirement," adding that he also invested Rs.300,000 following the advice of Rashid Mian, an imam of the Aam Wali Masjid. "He told me that if I put my money in Al-Fahad, the company would invest in business and make me a partner," he added. However, the police are yet to track down Hamud Siddique. |
| Posted by:John Frum |
| #8 Hmph. Dividends are distributions of profits, so why not invest in the stock market. Of course, in thier mind, they'd want an ISLAMIC stock market. Why? Because they don't trust the Kuf... oh, never mind |
| Posted by: Ptah 2007-02-18 20:57 |
| #7 "instead of interest, which is prohibited in Islam" So Islam perpetually turns back the clock on human rights, technological advancement, AND financing. Can anyone possibly wonder why it produces such backward societies? |
| Posted by: Sic_Semper_Tyrannus 2007-02-18 18:05 |
| #6 We can use this. |
| Posted by: gorb 2007-02-18 15:52 |
| #5 "Muslims are not in the mainstream...and the government, too, does not help them. Due to religious restrictions, they can neither take loans from banks to start some business nor can they give loans to anyone since both involve interest, which is an offence in Islam," Muslim religious leaders had said five years ago. These religious leaders take a verse from the koran that bans usuary and apply it to the banking sector. This is not by accident. They wish to isolate the community from the mainstream and garner the resources for themselves. They will of course blame the Indian government for not helping them and demand assistance, which they can pocket. |
| Posted by: John Frum 2007-02-18 14:33 |
| #4 No wonder they're so poor, no loans either for them, or by them, a sure formula for poverty. |
| Posted by: Redneck Jim 2007-02-18 14:10 |
| #3 Same thing happened in post-commie Albania, whole country taken in by a pyramid-scheme. I dunno. Some times I figure good plumbing is some sort of quantum accident. |
| Posted by: Shipman 2007-02-18 13:27 |
| #2 Yep.. they don't trust the hindu kaffir banker with their money but they trust the maulana and his friend to invest it for them. |
| Posted by: John Frum 2007-02-18 13:15 |
| #1 LOL! What maroons. I may have to setup a multi-level goat-marketing scheme. |
| Posted by: Shipman 2007-02-18 11:52 |