Al mabroor investments
Q: A person invested with al mabroor investments in a property investment with a pool of other investors, certified Shariah compliant by Mufti Ebrahim Desai Saheb. Now every month they give returns, which seem to be fixed and as a percentage wise amount of the invested amount i.e. every month getting the same amount. Is this type of investment permissible? Because according to the last email muftionline sent out, the profits can’t be fixed on the original investment amount. It may be that they know the total investors and the rental income and costs, and they made a estimate of the earnings accounting for maintenance etc , but how can they be sure?
A: Try and understand the shar`ee concept. The investment will not guarantee a stipulated return. For example, if the property cannot find tenants in a particular year or month then obviously your returns will be affected. You do not have a right to ask the company why aren’t you getting your stipulated returns.
And Allah Ta’ala (الله تعالى) knows best.
Mufti Ebrahim Salejee (Isipingo Beach)