You (we) normal citizen without any formal qualification shouldn't put a status on any official item of discussion (loan, agreement etc).

We in Malaysia have two official opinion, which anyone are free to follow which one they suit the best.

Some mufti agreed that is it not haram, after considering that this is one of the way bumiputera and muslim's help from government to be excel financially.

If you personally don't agree and think its haram, then opt out.

When others thought differently then what you think, its their choice; - as long as any decision was made after a fully informed thinking.


Funny when something even half beneficial as ASB being scrutinized till its very details while the obvious corruption/misplaced akidah been taken etc lightly.

Maybe it 'sabout getting in Hell for eternity for those who received/gives out Riba,while corruption don't? I'am not sure about corruption though maybe because it doesn't affects most of the people,but only the people who are corrupting.
So it means that i borrow RM50 000 from RHB and invest in ASB ,every year i get 8%+ dividen.So every month i have to pay RM299 accumulated until RM89 700,so the extra RM39 700 is the interest rate right?isn't that illegal in the islamic law?u pay more than u should.

Hukum Melabur Dalam ASB Dan ASN ‘Harus’
http://mynewshub.my/2014/02/14/hukum-melab...s/#.UxcEeM7z6ho

IF investing in ASB is harus,then how about if i borrow money?Is this considered as borrowing money from the nak with INTEREST RATE?As far as i know money borrowing with Interest Rate is prohibited for Muslim?Please enlighten me if I'am wrong.

So how much you think you should pay back to bank?...

By the way, mine was ASB loan (with shariah compliance). They don't use the term "interest" and replace it with something else, but technically its the same concept.

Errr... People who take and give bribes (corruption) will also go to Hell. There's a hadith about this.

Anyway, I believe that whether it is a small matter or a big matter, it shouldn't be taken lightly if there is a clear directive about it in Islam.

But, back to the loan question, yes the rm39700 is the interest rate and it is illegal in Islamic Law. However, if you make islamic loan for rm50k for 25 years, I assure you that you will pay more than rm89700 over 25 years because of higher profit rate (read: interest rate) than conventional loans. My point is, whether your loan is conventional or islamic, you still have to pay more than what you borrowed. The only difference is that the islamic law is structured in such a way that it is permissible in islamic law of transaction.

This post has been edited by Nidz: Mar 13 2014, 05:16 PM

//offtopic: i laugh at your shallowness

really, petty matter like this? if it bothers you so much, then you should terminate the loan, pay the penalty and be happy

there is absolutely nothing wrong with ASB financing package - legally, morally or if you want, religiously

go read up the loan terms and agreement in details. or get a lawyer to read it for you

you are given the FINAL AMOUNT of your loan, including interest (or whatever u wanna call it religiously). thus, it is already in the mudarabah concept. RHB buys the RM50k certificate for you. THen repacakage it and sell it at RM 89k to you by means of installment. the 39k is the bank's upfront profit

i really pity "pious" guys like these, who debate endlessly about riba, interest and such but still watch pirated anime, listen to pirated music, buy photocopy of university text books... and not forgetting watching porn and fapping silently in the toilet of the campus

no, there is not. there is no mention about ASB in koran.

All loans taken from banks (conventional or islamic) need to pay "extra". Only the term is different. The concept is the same

exactly

as for maybank, they call the interest rate as financing rate

that is in conventional loan, u use BLR

in islamic loan, u use BFR - base financing rate, which is basically pegged to BLR

how u know

Do you mind to give me some ideas on the calculation?

I do agree with that and that's why i rather hunt for ASX fund than saving in those plan...just wanna gather some opinion here...hehe

Anyway, I managed to top up another RM1450 into my ASM today

RM 350 + RM 150 in the morning

RM 100 + RM450 + RM400 in the afternoon

Actually I am wondering is there any associated risk with this ASX fund? if government changed (if only if ), will it affect this fund?

wow
change of gomen may have some minimal effect, not until the extend of bankruptcy

1 - I agree in so many ways. People nowadays already detached between religion and nowadays life, and they tend to treat them in two separate entity.

2 - Also, its a major mistake to sign your agreement on something you don't even realize in the first place.

3 - Err. Asking to pay the exact amount of money you loan from bank? I hate to sound cliche, but how old are you Nursh.


Please don't take it in a wrong way, but all the sifu in here are trying to clarify your confusion in their own way/tone/words. After evaluating all the facts given, you are free to choose your decision

if this is kopitiam, i may talk about some delicious rumours about the sources and backings of the ever performing Amanah Saham...

You got me at delicious rumours.

Yeah I guess something is wrong now. Having a lot of my non-bumi friends getting to too up their amanah saham accounts. I guess many people are selling off their units.

Is there anything to be worried off ? Signal of anything ?

which fund that they managed to get?

Please share lar the delicious rumours. We may analyze it & find proper explanation to it

Am I reading it correctly, your friends selling their units (houses, apartments etc) and park their money in ASX?

Or many people selling their ASX units and your friends topping up these available units?

Interesting .....