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Are unit trusts permissible? Can the profits be used?

Answered as per Hanafi Fiqh by Askimam.org

I invested in 3 different unit trusts 5 years ago. I want to sell these and would like to know if the appreciated amounts are halaal.

Answer

Conventional unit trusts are not Shari’ah Compliant Investment Schemes.

You may retain only your capital investment and give away the profits as
charity to the poor and needy.

and Allah Ta’ala Knows Best

Mufti Ebrahim Desai

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

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