Interest Free Business in Islamic Way - Huge Profits ????One of my friend told me that a group of Pakistani ulema (religious scholars) has established business and a big network of industries in different countries including Pakistan and they are providing opportunities to the common man to invest his / her amount in their business. In lieu thereof, they are offering a very handsome amount of profit which is NOT fixed.
According to him, they are paying an average profit of 4K per month against each 100K of investment. According to him, it can be 3.5K sometime and it can even touch 5K in a month based on the profit. One can withdraw his / her investment whenever he want. The investment is collected through their authorized agents (mostly molvi / imam of a masque) and profit is also distributed through the same network. He quoted few people who had already invested.
When I investigated, I came to know that many people have already invested and they are getting regularly their profit as per above stated ratio. I however could not figure out who is actually behind this business and idea, what type of business it is, is it legal or not and how true it is that the amount is being invested in a good business. I even could not find how reliable and secure it is to invest with that group.
Have you guys ever heard about such type of investment in Pakistan ? Can any of you have some info about their legality and credibility ? Please shed some light if you can.