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Best rate of return (risk free)

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amnajaffri

Hello


I have a current account in alBaraka and have saved about 100,000 TRY (TL) but the lira is losing its value very quickly!


Is there anywhere I can invest (not in stocks or property.. need something risk free and ideally shariah compliant). I heard Banks are offering upto 50% returns?


If yes, can anyone guide me please?


Thanks a lot!

lldd11

REPO, if your bank allows you. Talk to your account manager in the bank.

alpersezer79

Hi, You can consider putting your money into a "participation account" opened by Albaraka, which pays so-called participation earnings (more than 30% yearly), which is risk-free and shariah-compliant! By the way, this rate increases up to 50% in other private banks, which are not shariah-compliant.

amnajaffri

@alpersezer79

thank you so much! any idea how to check??

would love to do this


in the app, when I click "open participation account", it gives me many options like


"open current account

"open classic savings account

".. flexible savings account.."

".. accumulative savings .."

"..hajj/umrah.."

"..periodic saving.."

"..fix savings..."

etc


(i know its not hajj)..


would be really really grateful!!

thank you

amnajaffri

@lldd11

i am outside turkey physically and they dont really understand english (and my turkish isn't good)


I tried email but they aren't very response... any idea if that's available via the app?

cdw057

@amnajaffri

The TRY is actually doing quite well, still I am very reluctant to invest too much in Turkey, I am quite happy with may bank, but investments are from my home country (ratings in Turkey is not too good and only limited incusrance in case of bankrupcy)

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