Lankamuslim.com

One World One Ummah

Ceylinco Islamic ‘profit sharing’ Company too collapses

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The ‘Ceylinco profit sharing’ a Co. functioning under the Ceylinco group of Companies has also totally crashed. Consequently, 11000 Muslims who invested in this Company have been plunged into serious problems being unable to recover their monies.

The amount invested by these individuals is Rs. 8500 million.

As interest taking is prohibited in Islam , this Company was launched for Muslim investors . A majority of the investors in this Company are Muslims who have either gone on pension or are Muslim widows.

According to reports, the wife of an Eastern province Minister has been granted a loan of Rs. 65 lakhs by this Company which has not been recovered.

The Depositors have started an Organization , and are taking steps to recover their monies by legal processes .

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Written by lankamuslim.com

September 13, 2009 at 1:53 pm

Posted in News

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