Fixed profit returns on gold investment
Question
I want verification about the recent online gold investments (Dubai gold souk, golden premier club, etc.), where you invest a certain amount of money and wait for some weeks to get back your money with a fixed profit of like 100%/50%/150% etc. Is this ok in Islam or is it forbidden?
Answer
How is it that the returns are fixed whereas the gold rate continues fluctuating?
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
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