Takaful Investment

Question:-

I have recently been informed that there is a Shariah-compliant, Takaful investment opportunity in the name of, “Al-Mabroor Cattle Farming”.

What is Mufti Saheb’s advices on this, and is it permissible to invest one’s money with institutions such as this and the like thereof?

Answer:- 

We are not aware of the said investment, making it difficult for us to comment on its Shariah compliancy. The “Al-Mabroor Cattle Investment” was previously approved by the late Mufti Ebrahim Desai Saheb Rahimahullah of Durban. We are not aware of the current status of the investment. In conclusion, we at the Darul Ifta have not approved of any investment schemes.

ALLAH TA’ALA KNOWS BEST!

ANSWERED BY:-

Mufti Mohammed Desai

Date: 28 Muharram 1444 / 27 August 2022