Please specify if the following retirement policy is islamically pessimible or not.

Please specify if the following retirement policy is islamically pessimible or not.

http://www.oldmutual.co.za/corporate/employee-benefits/retirement-solutions/islamic-product-solutions/symmetry-islamic-fund.aspx#

It is called “SYmmETRY Islamic Fund”.  It is apperntly a pension/provident fund.  If this is not permissible can you please provide me of detaisl of a halaal fund where i can invest for retirement that is a pension / provident.

Answer:

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

We do not approve investing in the Old Mutual Symmetry Fund.

And Allah knows best

Wassalam

Muhammed Zakariyya Desai,

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.

Tags:

Link