Ref: tij036/08
June 2008
Q: Are Inzalo Sasol shares permissible?
A: We have recently been receiving many questions on the Inzalo Sasol share offering and thus find it appropriate to issue a statement regarding the permissibility of investing in these shares for the benefit of the Muslim public.
According to our research the share offering is broken down into two categories.
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A cash invitation through which one can purchase ordinary Sasol shares. This category of investment is permissible since the shares purchased are ordinary shares.
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A funded invitation which results in the eventual purchase of Sasol preferred ordinary shares. Investing in such preference shares is not permissible and is against the rules of Sharia. Hence, Muslims must avoid such impermissible investment.
Mufti Shafiq Jakhura
Iftaa Department, Darul Ihsan Islamic Services Centre
I concur with the answer:
Mufti Zubair Bayat
Ameer, Darul Ihsan Islamic Services Centre