Avoid Investing In Iraqi Dinar Scheme Warning
KUALA LUMPUR, Dec 20 (Bernama) -- The Malaysian Islamic Consumers Association Tuesday cautioned the public against a suspicious Iraqi dinar investment scheme, saying they could end up losers.
The association's project director, Noor Nirwandy Mat Noordin, said the scheme might be illegal and hoped that the public would not be duped by its attractive returns.
"Malaysians' excitement over fast and attractive returns has been a worrying phenomenon. The excitement over illegal investment schemes like the Swiss cash can backfire and they can be burnt," he said in a statement released here.
Noor Nirwandy said the Iraqi dinar investment plan operates on a pyramid scheme concept where investors are promised a return on investments of up to RM243,375 in one month.
As such, those who have information on such a scheme are requested to contact the association's hotline at 019-3591000 or its website at www.muslimconsumer.org.my, or to inform the central bank, he said.