Q: Is there an Islamic way where you can guarantee percentage of profitability for the investor? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: It is not permitted to guarantee a percentage of profit to the investor. Rather, the very basis for his eligibility for profit is that he is also exposing himself to […]
Read more...Category: Investments Fatawa
Are ‘Child Trust Funds’ permissible?
Q: Are ‘Child Trust Funds’ permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The concept of a CTF in which money is set aside for a child until he/she reaches 18 years of age is one that is in conformity with Verse 6 of Surah al-Nisa. However, it is how the money is invested, […]
Read more...How is Zakat paid on a ‘committee’ scheme between several individuals?
Q: How is Zakat paid on a ‘committee’ scheme between several individuals? I am currently calculating my Zakat for this year and wanted to know how we deal with a ‘committee’ which is a type of loan which is interest free, where there are a number of members and each member pays a certain amount and […]
Read more...Is it halal to invest in Wahed Invest?
Q: I would like to know in the opinion of Al-Qalam if it is halal invest in Wahed Invest (https://wahedinvest.com/uk/). A: We do not have any oversight of the operations of Wahed Invest UK so we are not able to comment on whether their operations are truly Sharia compliant or not. And Allah knows best. […]
Read more...How can I find Halal investments?
Q: I am trying to get into investing into shares but I can’t find all the criteria of companies that you list in your article? How do I find all of this information is there any easier way to find halaal companies to invest into? A: الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب You may […]
Read more...Is it permissible to invest in a Sharesave scheme of a bank?
Q: Can you tell if the following two forms of investments are permissible from a sharia perspective. Intention is to use the schemes as tax efficient vehicles only with a view of separating any impermissible profit and donating it to charity at the end of the scheme. 1. Sharesave – Sharesave scheme of a bank […]
Read more...Is the final salary/defined benefit scheme permissible?
Q: I am a teacher in a secondary and one thing that is offered to all teachers is the Teacher Pension scheme. such a scheme or any pension scheme deemed as halal, would it be better to opt-out of such schemes? It is the teacher pension scheme offered by the government. Each month an amount […]
Read more...I wish for my shares and ISA’s to be passed directly to my wife after death. How do I incorporate this in to my will?
Q: I wish for my shares and ISA’s to be passed directly to my wife after death. How do I incorporate this in to my will? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: When an individual passes away there are two ways that, after meeting debts and expenses of the final rites, ownership of his residual […]
Read more...Can I invest in premium bonds?
Q: Can I invest in premium bonds? The Al-Qalam Shariah Scholars Panel is respectfully requested to advise on the Islamic position regarding premium bonds. Are they a suitable way for Muslims to invest? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Premium Bonds are not suitable for Muslims to use as an investment […]
Read more...Is National Savings Accounts Islamically permissible?
Q: Is National Savings Accounts Islamically permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب National Savings Account wherein the principle is guaranteed and there is a definite return is not Sharī‘ah compliant. However, if anyone has deposited money into such an account the money so deposited will be liable for Zakāh.
Read more...What part of a Guaranteed Investment Certificate is haram?
Q: What part of a Guaranteed Investment Certificate is haram? My questions are about purifying myself because of my investments. I have money in a GIC (Guaranteed Investment Certificate) which focuses on blue chip companies: There portfolio breakdown is as follows: 20% Energy, 10% Conglomerates, 10% Utilities, 10% Telecommunications Services, 10% Mines & Minerals, 10% […]
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