Asalaam Wa Aluikum
My father passed away some time ago . I had received an amount as inheritance. This amont was invested for me in the Oasis General Equity Fund . After some time , I found out this investment was no longer halaal . My initial invesment as well as the profits I had earned from this investment were withdrawn . It was then put in the Oasis Crescent Equity Fund.Recently I belive that is also now doubtful.
I want to withdraw my money from this investment . What i need to now is the ffg. :
Do I subtrat the profits ive used from my initail investment and withdraw the balance of initial investment , or do I withdraw the whole initail investment as was ?
What can I do with profits , Is it permissible to give as charity ?
Is there any investments that are Shariah compliant for me to invest in ?
In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatoh
Your email of 26 February 2007 refers.
The original capital is permissible. You may thus use the R300 000. The “profits” earned should be given away in a charitable cause.
And Allah Ta’ala knows best.
E. Vawda, for Daarul Iftaa
Checked and approved: Mufti Ebrahim Desai Saheb.