Ref: tij017/08
March 2008
Q: I have funds invested with albaraka bank called “regular income provider”. Please let me know if the returns are in the catergory of interest or not? Can you please advise on permissible forms of investments in S.A.?
A:
To the best of our knowledge the returns given by Al Baraka Bank are currently permissible. There are many forms of Halaal investments in South Africa ranging from investments in property to investments in selected Sharia Compliant stocks on the stock exchange and equity funds. You could select a particular avenue of investment and thereafter verify its permissibility with a competent Aalim in the field.
Mufti Shafiq Jakhura
Iftaa Department, Darul Ihsan Islamic Services Centre
I concur with the answer:
Mufti Zubair Bayat
Ameer, Darul Ihsan Islamic Services Centre
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