In the previous article, we looked at why Muslims need to invest.
In this one, we will cover five popular investment options through which Muslims can increase their wealth and its value.
- Real estate: Investing in commercial or residential real estate, especially in areas where there is a potential for growth. This is a good halal option for Muslims to go for, as long as your financing and leasing is also halal. However, you may need a good amount of capital to get started with this option.
- Gold: Buying gold is a good investment that many Muslims can opt for, and buying gold needs little investment.
- Stocks: investing in public companies by buying their shares. This is another option available to Muslims. In this option, one has to check if the companies they are interested in are Shariah compliant and that they worthy of investment. Investing in the stock market can give high returns over time but it requires learning and doing proper due diligence. Muslim Xchange can help you in this regard. Check out our online Muslim Investor workshop.
- Private companies: You can also invest in startups and private companies. This option has the highest potential of reward but is also the riskiest.
- Invest in yourself: Learning a skill or acquiring education can be a great investment in yourself. This can help you earn more money by upgrading your career or offering freelance services.