Friday, April 13, 2007

Investment through Net forbidden

(For Malaysian Muslim Only)

KUALA TERENGGANU: The National Fatwa Council has ruled that any form of share investment through the Internet that promises a steady profit is haram (forbidden) because of the elements of riba (interest) and gharar (chance).

In passing the fatwa (edict) yesterday, council chairman Prof Datuk Dr Abdul Shukor Husin advised Muslims who dabbled in shares on the Internet, to withdraw their money.

There were many alternative investments based on Islamic principles, which they could participate in, he said after chairing the 77th National Fawta Council meeting here yesterday.