Home » Hanafi Fiqh » Askimam.org » I accept your ruling regarding Oasis and Futurerowth {trading in shares being impermissibille}. I have profits from the mentioned shares since I invested when there was no ruling regarding impermissablity. Can I use the profit to pay the vat on a vehicle I am purchasing.

I accept your ruling regarding Oasis and Futurerowth {trading in shares being impermissibille}. I have profits from the mentioned shares since I invested when there was no ruling regarding impermissablity. Can I use the profit to pay the vat on a vehicle I am purchasing.

Answered as per Hanafi Fiqh by Askimam.org

I accept your ruling regarding Oasis and Futurerowth {trading in shares being impermissibille}. I have profits from the mentioned shares since I invested when there was no ruling regarding impermissablity. Can I use the profit to pay the vat on a vehicle I am purchasing.

Answer

In the name of Allah, Most Gracious, Most Merciful


Assalaamu `alaykum waRahmatullahi Wabarakatuh

The gain from the investments of Oasis and Futuregrowth is not regarded as profit but interest. It is therefore not permissible to use these interest funds to pay for VAT on any item.

And Allah knows best

Wassalam u Alaikum

Muhammed Zakariyya Desai,
Assistant Mufti

Checked and Approved by:

Mufti Ebrahim Desai
Darul Iftaa, Madrassah In’aamiyyah


Original Source Link

This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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