Doodlebug:WOW!!!! This is HUGE HUGER and HUGEST!!!!
Why on earth would the Supreme Religious Leader of Iraq come out talking about Investing? (see article below) Around 40% of the country are in poverty. They don’t have homes, they don’t have a lot of money… but now Sistani’s Office feels it is necessary to “warn the citizens” while telling them it’s okay to go into the banks?
Sistani: Sure, you want to invest in a cigarette factory? Yes, this is okay BUT DON’T COME RUNNING TO ME WHEN YOUR INVESTMENT GOES BAD!
And just a side note, talking about alcohol, money and/or cigarettes in Iraq is a no-no so to have the religious leader address these things in the press? What is happening here!!!!
LOL… well, we know what is happening. Sistani just got out in front of the booming economy to tell the citizens that they can invest but be wise. You lose? Don’t expect Iraq to repay you the money.
Remember, Prime Minister’s come and go… Sistani will be their religious leader until he dies. That’s a powerful position.
If I didn’t know any better, and in my opinion only…I would say this is the Islamic version of article two.
This is HUGE! Thanks Don!
Don961: What is the ruling on investing money in banks? Is it permissible to invest money in a cigarette factory ?
2019 – 07 – 30
The Office of the Supreme Religious Reference Ali al-Husseini al-Sistani responded to a series of referenda on the legitimacy of the “investment”.
1 Question: What is the ruling on investing money in banks, knowing that investing in two parts:
Section I: I am not guaranteed profit or capital in case of loss.
Section II: I am not guaranteed profit, but in the event of loss, the bank will pay me an amount equal to the capital you paid?
Answer: It is permissible, if it is within a valid legal transaction, such as speculation, company or reward, it is necessary to mention how the investment and the treatment on which the basis and conditions are.
2 Question: Is it permissible to invest in foreign currencies, ie, the dollar is equivalent to 3.75 riyals, and when the dollar rises, it becomes = 4 riyals?
Answer: If the investment is to buy the dollar when the licenses and then sell it when it is expensive, there is no objection to it.
3 Question: Is it permissible to invest money in a factory for drinking?
Answer: It is permissible.
4 Is it permissible to take a loan for the purpose of investing it, and it is due to income that helps me in my life?
Answer: It is permissible if he is without interest or if he is of interest, if he is from a company or a bank in which he has a percentage of the government, he is entitled to the permission of the authority and the permission of the master.
5 Question: I have a sum of money and I want to invest in loans in the following way:
The borrower buys a certain commodity that I have in the amount of 6000 riyals and for a year, so that he pays me 500 riyals every month. After he owns it and we write the sale contract, he starts selling it for 5000 riyals in cash. If there is no passport, is there any legitimate way to make such investments?
Answer: It is permissible by two conditions:
1 If the sale is realistic and not so visionary that if I buy from you then refused to sell or refused to buy you will be committed to the first sale.
2 – If the second sale is not required in the first sale, then do not say to him, “I sell you on condition that you buy them from me.”
6 Question: What is the ruling of investment funds in banks?
Answer: It is permissible unless one of the companies signed between the parties has a transaction company that is haraam, as if it were dealing with riba or selling alcohol.
7 Question: I work as an intermediary between investors and an investment company that invests in currency trading in exchange for a percentage of investment profits. I have mediated between a person and this company. After completing the process it became clear to me that this person earns haraam. What is the ruling on the commission taken from this mediation?
Answer: Halal for you. link
Samson: The seizure of more than 11 billion dinars from the allocation of displaced Ninewa
2019/7/30 10:22
The Integrity Commission announced that the staff of the Directorate of Nineveh investigation can control the priorities of the disbursement of more than (11) billion dinars in the Office of the province, indicating that these amounts allocated by the Ministry of Migration and Displaced to provide relief and shelter displaced people.
The Department of Investigation, in its presentation of the details of the investigation, pointed out that the Directorate’s team has set priorities for the disbursement of 11,312,258,000 billion dinars in the Ninawa Governorate Office – the Accounts, Budgets and Local Engineering Departments. These amounts are allocated by the Ministry of Displacement and Migration As an advance for the province; for the relief and shelter of displaced persons, through the processing of materials and the implementation of the work of the Department of Health and Director of Education in Nineveh.
The Department pointed out that the daily deposit document containing the depositing of the said amount and the deposit voucher issued by the Rafidain Bank / Baghdad Branch, as well as copies of the current account under the instrument issued by the Ministry of Displacement and Migration, The disbursement priorities for the said amount; for the rehabilitation of the peace and educational hospitals in Mosul.
The investigations conducted by the team led to the discovery that the amount was withdrawn in full, and was not deposited in a bank account for the province or in the “pickups” of the province, but deposited in the Kurdistan region, where the selection of implementing contractors; to rehabilitate the two hospitals by the former governor of Nineveh, The amounts were received through it, supported by a copy of an arrest receipt supporting the receipt of the amounts in Erbil, as well as the arrest of 23 contractors from the executing contractors for projects indicating receipt of funds from the province without the existence of a receipt to support it.
She added that a record of the seizure of assets has been organized and presented to the investigative body competent in the issues of integrity in Nineveh, which decided to conduct the investigation in accordance with the provisions of Article 315 of the Penal Code. It is noteworthy that the Integrity Commission announced in June last year to disclose the embezzlement of six billion dinars from the funds of rehabilitation of buildings Nineveh province. LINK
Samson: Parliamentary Integrity: We have begun to investigate suspicions of corruption of the Central Bank
28th July, 2019
Ahmed al-Mashhadani, a member of the Commission on Integrity, said Sunday that the committee started investigating files of corruption related to the Central Bank and selling the currency. He called on all parties claiming corruption files to be referred to the committee for scrutiny.
Mashhadani said in an interview with “Kalkamesh Press” that “the files of the corruption of the Central Bank is multiple, including those related to the work of the Commission and the investigation of these files now,” noting that “the files will be sent to the competent authorities and will be announced upon completion of the investigation.”
He called for “to submit files of corruption to the Commission on Integrity of the parliamentary by all parties that claim to be there to investigate.” He explained that “the Committee follows all files and will begin with the important.” LINK
*****************
Samson: Oil rises as the market anticipates an expected cut in US interest rates
30th July, 2019
Oil prices rose for a fourth session on Tuesday, buoyed by optimism that the Federal Reserve will cut interest rates for the first time in more than a decade, boosting fuel demand growth in the world’s top oil consumer
Brent crude rose 46 cents, or 0.7 percent, to $ 64.17 a barrel by 0651 GMT after rising 0.4 percent in the previous session
US crude was up 41 cents, or 0.7 percent, at $ 57.28 a barrel, after rising 1.2 percent on Monday
US central bank officials are due to start meeting later on Tuesday, which is expected to cut borrowing costs for the first time since the financial crisis hit its peak more than a decade ago
US President Donald Trump said a small cut in interest rates “would not be enough
Economic growth in the United States slowed less-than-expected in the second quarter, boosting oil consumption expectations, but disappointing economic data raised fears of slowing growth LINK
Samson: US compensation for victims of September 11 to 2092
2019/7/29 19:52
President Donald Trump signed a decree on Monday to compensate the families of the victims of the September 11, 2001 attacks.
On Wednesday, the US Senate overwhelmingly passed a bill extending funding for compensation to the medics and wounded who were injured during the September 11 attacks, up to 2092, to compensate people who helped rescue and remove rubble in precarious conditions.
The law provides for billions of dollars in funding for the compensation fund, including about 10 billion earmarked for the next decade, approved by 97 council members in exchange for two opposition.
Securing permanent funding for the September 11 victims’ compensation fund will end the suffering of those who have sought refuge in Congress to seek an extension of funding. It is worth mentioning that Congress renewed funding of the Fund between 2011 and 2015 to help thousands of others, and was scheduled to stop the Fund to accept new applications in late 2020. LINK
