- 23 Aug 2008, 00:53
#12350
All over town the hype of the NMB IPO is spreading like wildfire.
Several brothers/sisters have come to me for advice with regards to investing in NMB. Hence, I decided to post a few thoughts here..
Some time ago when there was heresay of the NMB IPO, Dr. Alidina had a small presentation after maghribayn prayers where he explained that investing in NMB shares would be haraam.
The logic that he pointed to was that investing in any institution which derived its main income from 'interest' is automatically haraam. (since any share of profits an investor would receive would be derived from interest income)
Several brothers/sisters have come to me for advice with regards to investing in NMB. Hence, I decided to post a few thoughts here..
Some time ago when there was heresay of the NMB IPO, Dr. Alidina had a small presentation after maghribayn prayers where he explained that investing in NMB shares would be haraam.
The logic that he pointed to was that investing in any institution which derived its main income from 'interest' is automatically haraam. (since any share of profits an investor would receive would be derived from interest income)
- Watch 'The Mukhtar Narrative / Mukhtar Nama' on Ask - a series narrating Mukhtar al-Thaqafi's revenge for Karbala.
- Watch 'The life of the Father of Chemistry, Jabir ibn Hayyan'