Investing on the JSE

Question:-

Please let me know your view on the permissibility of investing in shares of companies on the JSE? I understand there is a difference of opinion, so I would like Mufti Saheb’s view.

Are there any permissible investments in South Africa that Mufti Saheb is aware of?

Answer:-

1. There is difference of opinion amongst the Ulama regarding investing on the JSE. Some of the current day Muftis have permitted investing on the JSE, whilst others do not approve of it. Our Darul Ifta does not approve of investing on the JSE. This has also been the view of Hadrat Mufti Mahmood Saheb Gangohi Rahimahullah. For further details you may refer to Kitaabun Nawaazil, page. 209 Vol.11.

2. Our Darul Ifta hasn’t approved of any investments. However, you may consider gold as an investment. If your heart is inclined towards investing in gold, then you should seek guidance from Allah Ta’ala through Istikhaarah, and then invest.

ALLAH TA’ALA KNOWS BEST!

ANSWERED BY:

Mufti Mohammed Desai

Date: 24 Rajab 1444 / 15 February 2023