Shariah compliant investments
Question
As salaam wa alykum
As far as Islamic banking and investments go, what are the options that are shariah compliant?
Al Mabroor?
Fnb?
Hbz?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
Respected brother/sister,
There are many Shariah compliant options in the field of Islamic banking and investments.
The Darul Iftaa has approved and certified the Al-Mabroor Buffalo Project and Al-Mabroor Property Investment Scheme. You may view our Certificate of Shari’ah Compliancy on their website.
The Darul Iftaa has also approved the Hasanaat Cattle Investment Scheme.
The HBZ Shari’a banking system is also Shariah compliant and has been checked and approved by Mufti Ebrahim Desai Saheb. You may use the Shari’a banking services provided by HBZ Islamic bank.
It should however be noted that the Darul Iftaa does not bear any responsibility beyond Shariah compliancy. One may invest after one has thoroughly studied the above schemes and is fully satisfied.
And Allah Ta’āla Knows Best
Ahmad Patel
Student Darul Iftaa
South Africa
Checked and Approved by,
Mufti Ebrahim Desai.
- Answered by
- Ahmad Patel
- Checked & approved by
- Mufti Ebrahim Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.