Hi, I need some help here every one. I am contributing into my 401k but recently i find out that Islamic principles require that investors share in profit and loss, that they receive no usury or interest, and that they do not invest in a business that is not permitted by Islamic principles. Some of the businesses not permitted are liquor, wine, casinos, pornography, insurance, gambling, pork processing, and interest-based banks or finance associations.
The Funds do not make any investments that pay interest. In accordance with Islamic principles, the Funds shall not purchase bonds, debentures, or other interest paying obligations of indebtedness. Now i would like to take hardship on my 401K and put int funds that are designed for Muslim or if you have any idea please let me know.
THanks-
2007-03-28
05:02:19
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4 answers
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asked by
entrepreneur
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