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Islamic Finance Expert Saif Ahmed on Ponzi Schemes and Halal Investments – The Cognate Interview
Do names like Ambidant, Aala, Morgenall, Heera Gold, Burraqh and other similar companies ring a bell? These are Ponzi schemes in which thousands of people, especially investors from the Muslim community have lost thousands of crores in the past year alone. In this interview with The Cognate, Saif Ahmed, a…

‘Halal’ Fraud Investment Schemes Survey
Since January 2018, more than 10 Bengaluru-based investment companies, all operating under the pretext of being Shariah-compliant, have either shut down operations or have stopped paying investors their promised monthly returns. These companies are believed to have defrauded investors to the tune of hundreds of crores, by systematically targeting the…

Bengaluru-based Investment Firm Morgenall Shuts Office, Leaves Investors in the Lurch
Bengaluru: Bengaluru-based financial firm Morgenall, has shut down its office, leaving thousands of customers in the lurch. On Monday, investors who went to the firm’s corporate office in Horamvu to collect their monthly dues saw that the office was locked, and the phone numbers not operational. When the panicked investors…
Shaik Zakeer Hussain is the Founder and Editor of The Cognate.
