Thursday, October 20, 2005

Anybody know....

...about this Child Trust Fund thingy and how I can invest the £250 without all the riba that comes along with it. Or is that impossible. Or am I just crap with money. Or should I just shred the cheque up? Banks not helpful in answering questions - they just give you an info pack and say "all the questions are answered in there". They are wrong.

Anybody?

6 Comments:

At 1:28 pm, Blogger *~H~* said...

There are certain companies which claim to invest your money according to Islamic principles. Worth checking out? If you got their details and then you could take the contract to a scholar and get him/her to check if its legitimate.

 
At 2:15 pm, Blogger LMM said...

I've still got mine in the drawer,I thought it had to go into a bank account and by the time he is 18 what will £250 be worth?Not sure either..

 
At 2:26 pm, Blogger Hannah said...

Both Aaliya's and Samee's in draw too. Likewise I thought that without the haram interest what on earth will 250.00 be worth? Like £10 by today's standards? Plus just never got around to going into a bank and dealing with the whole 'why don't you want interest?' questions.

 
At 2:45 pm, Blogger Qalballah said...

but it's still their haqq innit?

 
At 6:54 pm, Blogger Hannah said...

I suppose so. Tell you what, you do the research and let me know!
;-)

 
At 8:43 pm, Blogger milkmumma said...

ooooooooops, chucked 'mine' - too much to think about without something like that to try and get brain around. i did read it all, thought it sounded dodgy and binned it.
actually, i recently read that if guardian/ parent doesn't invest it, then gov does for the child - hmmmm, *very* interesting, eh! wonder who is benefitting?
and isn't it only valid to invest until child 12 months old - then you've lost your slot?

 

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