Investing in Kruger coins through FNB
Question
FNB offer a service where one can invest in Kruger Rand gold coins through them. They then store it for you at a fee of 0.86%pa.
-If one wants to sell the coin back to them, its done at the click of a button.
-If one wants the physical coin, they can arrange for it to be delivered to you at a cost.
-Prior to requesting the coin, I'm not sure if they keep the physical coin or not.
Please advise if it will be permissible to purchase a coin through them in this manner.
Answer
If you purchase the coin from them and take physical possession of it, it will be permissible. Thereafter, if you wish, you may keep it with them and pay them a set fee for safekeeping.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Zakaria Makada
- Checked & approved by
- Mufti Ebrahim Salejee (Isipingo Beach)
Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.