A person approached different individuals and asked them to give him money for business purposes. For example, he would say, “Give me R100 000. I will use it to purchase a particular product, sell it, and after a few days, I will return your capital together with a...
I have noted the Fatwa regarding the two-pot provident fund. I am part of an involuntary pension fund so I assume that the application will be the same, since I also have an accessible portion. Two issues come to mind after going through the response to the initial...
QUESTION: Is it permissible to invest in stocks and shares?Are all stocks and shares based on interest? I have seen many Muslims seek Shari'ah complaint alternatives but they don't seem different to the main sources. ANSWER: From the outset, it is imperitive to bear...
QUESTION: A person has an investment in Old Mutual. Does he pay Zakaah on the full amount that is in the portfolio, or only what was invested in the last year? ANSWER: Firstly, our Darul Ifta is not in favour of investing in Old Mutual as a majority of the income of...
QUESTION: Is it permissible to invest in Morita Forestry? The details are as follows: Morita Forestry is an investment management company founded in 2019, focused on forestland investments and carbon sequestration projects. *The company manages forests to generate...
QUESTION: An opportunity to invest has arisen. Kindly find the details of the proposed investment below: • I am required to invest an amount of R1 000 000.00 into a private company for the purpose of business expansion. • The investment term is 5 years. • The capital...
QUESTION: My parents had invested some of our money when we were younger into Vodacom and Telkom shares. I was told that when the dividends are received annually, I should remove 50% due to interest, and use the remaining 50%. I now intend on selling the shares to use...
QUESTION: My mother had invested money with Amaanah a while back. She has been trying to sell the shares but it's proving to be a challenge at the moment. Is it permissible to use any income derived from it? ANSWER: If the money was put into such an investment which...