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Ibn Abdillah As-sudaisiy Al-Iloori

My advice for brothers and sisters trying to invest in a business is for them to be careful where they get their capital from. Don't collect money from people. The best loan you can get is from your parent and it is also important to be careful with it in order not to throw the family into a financial mess. The best loan is Qardh Hasan - loan that looks like a gift or that you know the grantor is indirectly empowering you and not "owo oniru, owo alata" (money belonging to poor people). They will not take things lightly if anything happens. It is good to do business, but not at all cost. This kind of thing has thrown many respected people into EFCC net where they are made to carry the criminal placards or even in prisons if care is not taken.

I must say this for record purpose - a brother on this platform that I also know offline sought my help to assist him to post an investment plan flyer on my wall. After posting it, people started asking questions. The only thing I could do was to tag the brother, so that he can answer all the questions people were asking. I didn't even follow their discussion because I was not interested in the business. What I just did was to leave him to educate those willing to invest with him. 

Unfortunately about a year later, a brother contacted me that he invested 400k in the business. At first I denied posting anything of such because I had forgotten and I was not interested in the business. Another highly respected brother and very strong follower also contacted me that he invested the same amount or more in the business and the brother has not been forthcoming on the terms of their agreements. 

I tried to reach out to the brother through those who know him better than I do. It was very difficult to get him at first, but I later got him to visit my office. We discussed at length and he told me how everything happened. I believed him, but I made him to understand those people dealt with because they felt I knew him well. I advised the brother to resolve the issue with them by paying them their money or at least share the loss with them. Their 400k can't just go like that. 

The brother has been promising and failing. I later confirmed some other people also deposited some funds with him without any return. While one of the two brothers that contacted me was patient and has since not contacted me after the first report, the other brother has been messaging me to help him talk to the brother that collected money from them. When I can no longer do anything, I had to advise him to take it up legally. I don't know where they are now.

This is why I have been very careful in advertising for people if you don't know. A lot of people see our adverts as a form of recommendation, not knowing that we are only helping them. I try to be sure I know someone very well before I advertise their products. But this is now very dangerous because you may think you know some people, but you don't actually know them.

I have been keeping this to myself. But I feel I should write about it so that other people can learn.

May Allāh guide us aright.

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