Is it permissable to purchase shares directly from the South African Reserve Bank (SARB)?

Answered by 

Shaykh Ebrahim Desai

Is it permissible to purchase shares directly from the South African Reserve Bank (SARB)?

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

[i]It is not permissible to purchase shares from SARB.

And Allah Ta’āla Knows Best

Khalil Johnson

Student Darul Iftaa
Canada

Checked and Approved by,
Mufti Ebrahim Desai

[i]The Central Bank generates income from the following sources:

  1. Interest earned on advances made to Government and on holdings of Treasury bills and Registered Stocks;
  2. Interest earned on foreign currency securities and deposits;
  3. Commissions received on foreign exchange transactions; and
  4. Royalties and commissions earned from numismatic coin sales.

“How does the Central Bank make money? – The Central Bank of The Bahamas”, accessed 08 February 2014. http://www.centralbankbahamas.com/faqs.php?cat=18&id=10139.

Original Source Link

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

Tags: Bank, currency, Government, income, Interest

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