more respon to the article about the investmentMarch 10, 2007
*artikel ini dihantar kepada saya oleh seorang pelajar MMU,dan ini membuktikan kegoncangan pemikiran yang saya usaha kan berhasil.Dan kepada orang yang mengatakan bahawa usaha saya utk mengoncangkan pemikiran Student MMU tidak berhasil,maka anda silap.Sila baca artikel ini….
I’m Muslim students who have no background about Shariah, Mu’amalat or those Islamic Laws very well. I’m just a very ordinary person, just like brother Yus, brother Badruz, Brother Juan and so forth. I would like to ask all of us to leave all those perceptions, propagandas, told-facts, and of course our own capacity to sit, spend some time to read, share and discuss. Regardless of whoever we are; President of Islamic Student Organization, Student Representatives Council, Ordinary Student, Lecturer, Lawyer, who-so-ever read this. Do leave your capacity first alongside with all those told-facts, perceptions, propagandas and all to read this as an ordinary Islam believers.
I may not have any qualification, any good grounds to talk about this, but I believe I do have my rights to talk regarding my religion.
The company, the plan and for the good sake of Ummah’s economy; is the grass greener?
This topic is discussed constantly by pro-claimed economic professor, MLMers, networkers and even fellow students alike. And to answer the question we have to get to the truth, examine the differences and define our needs. This writings purpose is to bring what I have learned together in a manner that will be shared together with my brothers and sisters, shedding some clearer sight in other measure of degrees.
I could still remember even if it’s not vivid, it was like 2-3 weeks after the New Year’s Eve where my cousins and I went to Batu Kawan, witnessing a race event. And suddenly a guy from Penang, specifically a member of the club approached us, introducing something that he claims that could save the consumption of the fuel. Well, as for one of my cousins, it was good news. I mean great news. So, he decided to book for his car, and the guy came a week after to plug in the thing in between the carburetor. And it worked, until now. That was early January of year 2005.
When it came to late December 2006, a friend of mine came to me, introduced me a new business opportunity regarding the ‘thing that could save the fuel consumption’. As for me, it could be a lot way better for me to be included in the business opportunity. Well, it’s all about Stromberg Power Booster that come from far away, it’s Germany. And the business opportunity is to be a smart partner for al local company who claims to be the one and only provider around Asia (if I’m not mistaken). So be it.
What it’s all about?
To be short, it’s a smart partnership program that could yield 100% profit or in other way, 200% return in 8 months. As for me, “wow, that could be no better than ASB, Unit Trust or something else” That’s a good big figure, and a good short period. I asked him whether it’s an investment; he replied with a no. a firm no. So what it’s all about?
Here’s the plan. You’ve to register RM550 [RM50 for management fees + RM500 for 2 sets of the product] first. Then, you’re eligible to put some good amount of money inside. Minimum is RM1000, next amount is in the multiply of RM1000. Then, wait for 8 months to rake-off the promised return. That’s looks promising. Wondering how it works?
How it works?
It’s obviously merely an investment, but things for real, it’s not! Not an investment!
Have you come across a term Sale and Purchase Contract? If so, wait no more.
Regarding Sale and Purchase Contract, the mechanisms works like this way;
We buy the product through the company, and the company buys the product back from us with an agreed amount and agreed period, through a duty-stamped agreement. In this method, initially from RM1000, we are buying 4 sets of the product, and the company would buys back from us with price RM2000 but they pay us in 8 months. So, a month we actually earns [RM2000/8 = RM250] = [RM250/RM1000 = 25%]. Now, is it sound better? We actually are applying a Sale and Purchase contract. The thing is similar to when we buy a house or a car (property) through a bank. All we just need to do is pay the installment with an agreed amount and an agreed period through a duty-stamped agreement contract[Aqad].That’s including Bai` Bithaman Ajil (BBA) 1 according to Islamic term that all the Islamic bank always do. Sound any better? Or read any better?
Is the company our savior? Run straight to your nearest agent? Not so fast.
Earlier, after looking here and there, I said to me myself “This is it. This is one in a lifetime opportunity. I must not miss it”. Why in the world I would miss the so-called good opportunity? Heck that I would ignore it. Plus, their motto is to help generate the ummah’s economy. Thanks to Allah that sends this good Samaritans in helping us to generate the ummah’s economy. Wait no more, run straight to the nearest agent.
Not so fast. I just glancing something familiar. I smelled something fishy over there.
My friends who introduced me earlier got his first payment already. He overwhelmingly asked me to join under him, so often that you couldn’t imagine how. He always showered me with those stories of the president of the company provides his contact number, in case anyone would need him, he could come in handy. The president also bought a restaurant, a hotel and in the future, would provide a free-education institute. The restaurant and the hotel would be free for all. That’s sound good, I was wondering how generous he could be.
So, I asked him everything that doubts me. He doesn’t even know the Stamp Act, 1949 or even Limited Liability Partnership Act. I neither know about those acts. Plus, he also never knows what it is all about the historical an Italian man, Mr. Charles Ponzi and his ponzi and scam scheme. I’m afraid of being a victim of swindlers. Not to say that the president is the con man, but different people accommodate different points of views. And I always questioned myself the ‘too good to be true’ things and always tell me myself to stay away from them, in case it’s included a flimflam. To be honest, I always am think about the worst, confidence tricks exploit human weaknesses like greed, dishonesty, vanity, but also virtues like honesty, compassion, or the naivety of believing in the existence of something called “good faith”.
But I never pointed my fingers out of the way straight to this company neither would I put a flames between those people asking them to stay away or join. That’s their money, not mine. They have the rights upon the property, not me. So, I decided not to join.
And I could still remember how other friend of mine, nearly went broke after joining an investment that promise a high yield return. In just a glance, the company went away with the money. Even both parties had signed duty-stamped agreement of shareholder, but the case just faded away. Why? Because, the cost to uphold the lawyer for the case is way higher than the money he lost. Duty stamped agreement is merely an act, because it’s only eligible to bring the case to the court that is it, excluding the costs.
I always tell me myself that the company is good, but it’s only I who was afraid. So, I didn’t take the once in a lifetime opportunity. I always believe that there’s always ‘one more time’ term.
Suspicion and the want for something better
So I tell my friend that I can’t afford to join. Simple answers but honest. I never told him why. I had him asked, why he always giving me feedback about the company and always asked me to join in. At first, he told me that I’m included in the ummah, so why wouldn’t I join in for the good sake of the ummah. Just for a good future. I can never believe my ears that listening to him and started to wonder, when he’s so kind to think about the ummah’s problem? So, for a confirmation, I asked him for the second time. To my surprise, if the answer could kill, I would be dead right at that time. The answer is simple. There a *bonus payback scheme, and is co-called smart moving partnership. So, I for any no better reason, I just stay away, firm on myself.
Facts, uncertainty and doubtful
So, there are points to ponder for us all. I would like to ask all of us to leave all those truth first, and continue the reading. Leave all those capacity as an economist, archeologist, psychiatry, students, lecturers, student representative council, ulama or even unemployed. Leave those entire free-for-all restaurants, hotel or even the university first. I would like all to share with me, be an open-minded person.
if you all can’t see clearly the digram,please go to : http://img83.imageshack.us/img83/9241/bpstr6.png
Fact 1 ;
This is not a MLM company
It’s distinguishable obvious that they manifest multi-level approach, isn’t it? Can you see the figure above? Now, let say you just enrolled in. Automatically you’ll be dissolved in the multi-level system anyway. Let say your friend are the ‘investor’ placed at the top chart. He introduce you to this scheme, you’ll be placed at ‘A’. At the same time, you’re ‘A1’ to someone higher than ‘investor’, at the same time you’re ‘A2’ for someone higher than ‘someone higher‘investor’’ and so on…. Whether you’re deciding not to refer anyone, but you’re actually auto-included in the same time. There’s no way out from this multi-level regularity. Get that? There will always loads of someone higher and you’ll never realize how low your place or how high your place be. A MLM company, isn’t it? than
For registration, you’ve to pay RM550 [RM50 for management fees + RM500 for 2 sets of the product]
I would never care about the management fees. It’s a company, and they deserved it to pay for the clerk, accountants, safe guards, and webmaster and on. How about RM500 for 2 sets of the product? Someone doesn’t even have a vehicle or using public transport wants to join and they have to pay for 2 sets of the products? I don’t see any way for them to use it? Plug it onto the public transport? Hey, it’s a light rail transit and I don’t think they would need it. What the actual purpose for them to pay for the products they never need it? Why should they? Is there any logical reason?
According to Ust Zaharudin in his article, any product from any company must be bought on the purpose itself. We don’t simply pay for 2 sets of the product to be enrolled in but never have to use it. Or is it the price to pay for the honorarium [see Fact 3].
Allotment compensation costs you around RM550 [RM50 for the management fee + RM500 for 2 set of the product]
The same things happen here. Upon the enrollment, you’ll be paying around RM550 for allotment compensation, that’s including the management fee and 2 set of the product. All I see only the levy juice on which you’re paying for the promulgators and their up-lines. According to Fact 1, the endowment purpose is to pay someone higher. You’re at the 1st level to someone, 2nd level to someone higher, 3rd level to someone higher that previous someone higher and on. From RM550, we reduced [RM100 (1st level) + RM1 (2nd level) + RM1 (3rd level)+ RM1 (4th level)+ RM100 (5th level) = RM203] for so-called honorarium or inheritance to the prolocutor. So, the total amount left is [RM550 –RM203 = RM347], is RM347 worth of 2 sets of the product?
As far as I’m concern, in Islamic business manner, there’s no such things as *Bonus payback scheme, and if there is something like that, only 1st level are eligible, not until 5th level. From here, as we all well aware, the so-called remuneration is something we should doubt about or in other proper word uncertainty [gharar]. Why? Because I can’t see in any way the ‘monies’ come in to pay all those level. Or is the company so generous to pay those people who are in? To conclude, the commissions’ structures are not clear. We don’t simply believe in so-called approach. Don’t just simply follow. How about “hey, we pay for 2 set of the product laa…” Yeah! That’s it. You pay for 2 sets of product, then where the heck the honorarium comes in?
Or is the company so generous to pay those people who are in?
Is there such thing is this modern world? If the answer is a yes. I would swallow it, undoubtedly. But something had come across my head earlier, keep dazzling my tube emphatically, and it keeps playing around in my mind. Why in the world the company just pay to the zakat to all qualified asnaf and as we all well aware, the TV3 Bersamamu program keep showing all those Muslim people who are can never pay for their daily food, or even for basic clothes. Not to say for their children’s school fees. What about all these people who are afford less?
It’s for good sake of ummah’s economy.
I would agree, if the company is generous enough to provide all these kind of opportunities to all Muslim people, instead of them having PNB, MARA and those GLCs that always are there to help. For those whoever wants to start small businesses and all. The different is they never shout for the ummah economy, instead of helping pure-bumiputra. You get it? All the whilst, I’m writing this ignoring all those MLM companies, PNB, conventional banks or so. It’s because they never squawk for the sake of ummah economy. The heck with those. It’s for bumiputra and that’s including all those non-Muslim Bidayuh, Kenyans or so.
For a start, you’ve to pay RM550 for registration and other minimum RM1000 (or multiply of RM1000). Then you’re eligible to rake-off all those 25% profit monthly. Isn’t that a big amount of monies? As for a common government worker, that’s considered half of their monthly salary. That’s for government worker, how about any private sector worker, students, unemployed personal and the list goes on downwards. It’s a big amount actually. BIG AMOUNT! How dare they claim that’s for ummah’s economy? Even my neighbor who works as a clerk think for 4 months before joining in, and fortunately she didn’t even happen to join. It’s because monetary value in their live. If even the clerk didn’t join, how about the people who are afford less? It’s kind of burdensome for them to join. If it’s for ummah economy and that’s means for the un-rich people becoming rich, it should be join-able. Get that? How many people that live in poverty succeeded to join in? It’s for higher class people, who always thinks forward and towards the monetary value.
Generating the ummah’s economy, as a Muslim we must understand that the success of the ummah not measure by the degree of the material, property or the economy. And we must obey that, looking for the Halal or permissible is a must, a mandatory. 2 elements to be succeeded are the material and the spiritual, but the must contains the barakah. If the material or the monies mixed with the uncertainty [gharar], then how barakah could fills in?
So why all the praises to the program?
In a word, that is transparency. Or at least, the promise of transparency. While some are initially attracted by the so-called good sake of ummah’s economy, the big draw for joiners is to shove all those double-profit potential. If we can think the real world fairly, by not to think for becoming wealthily rich in just a shot then no one can lie to us or cheat us. And for many, we just want a fair shake. But the thing that must be said here is that, we may have revealed the thing that lies behind those papers.
What your catch in the program? If you’re looking for the better ummah’s economy, wait no more to ask the authority to start collecting zakat and be fair to distribute it. That’s the better way I would say. No string attached.
What those people are up to actually? Good sake of ummah’s economy? the profits that they may shove or raise in the future?
So, is the grass greener with the program?
The answer is up to you. I would never care about your money or your future security. The heck I care about your money? I don’t even have the pinch of the rights to decide on what’ll you do with money. And I don’t fancy if in 8 months from now, you’ll be riding a new luxurious car, or using a new stylish phone or even buying a new big crib for your family. I don’t fancy all; in fact I would never care about it all. The thing is actually about the halal, the permissible that we may put in our mouth or our child’s mouth that in the future may be dissolved in our own body.
I don’t give any damn to all those private company or even the authority that offers us loads of way to be rich, to be economically stable. Why do I? Because they never roar about the ummah’s economy, so, why would I?
Bai` Bithaman Ajil (BBA) 1 A contract that refers to the sale and purchase transaction for the financing of assets on a deferred and an installment basis with a pre-agreed payment period. The sale price will include a profit margin.
Gharar 2Gharar is an element of deception either through ignorance of the goods, the price, or through faulty description of the goods, in which one or both parties stand to be deceived through ignorance of an essential element of exchange. As an example, gambling is a form of Gharar because the gambler is ignorant of the result of the gamble. Gharar is divided into three types, namely gharar fahish (excessive), which vitiates the transaction, gharar yasir (minor), which is tolerated and gharar mutawassit (moderate), which falls between the other two categories. Any transaction can be classified as forbidden activity because of excessive gharar.
Zakat3 A tax, which is prescribed by Islam on all persons having wealth above a certain amount and that, is an exemption limit at a rate fixed by the Shariah. According to the Islamic belief Zakah t purifies wealth and souls. The objective is to take away a part of the wealth of the well-to-do and to distribute it among the 8 categorizes stated in the Quran.