IMPORTANT INVESTMENT ANNOUNCEMENT
The Darul Iftaa have been receiving queries regarding purchasing shares in SASOL. We have also been informed that there are two alternatives in purchasing SASOL shares. Both these alternatives have conditions attached to the purchasing of the shares.
It is our view that purchasing shares is not permissible. Kindly find link to our article on shares.
http://www.al-inaam.com/fataawa/shares_stocks/shares_stocks.htm
Nevertheless, even if one decides to purchase the shares, the condition of not selling the shares etc attached to it is not according to Shariah. This is Ba’un wa Shartun (Selling with a condition) which is prohibited in Shariah.
We advise you to be patient. We have announced in the business campaign that we are designing a very traditional investment product. This is specially designed for people that are sensitive to Shariah Compliancy. Alhamdulillah, we are about finalizing the product and once we are ready we will launch the product. This product will cater for everyone, low income group, middle income and higher income group.
Remember, Barakah is not what the percentage of return will be, it is doing it according to Shariah. Nevertheless, we also hope that this product will bring handsome returns to you coupled with the barakah of its Shariah Compliancy.
Mufti Ebrahim Desai
Darul Iftaa – Camperdown