Is it permissible to engage in any sort of investing with the Unit Trust Corporation of Trinidad and Tobago?
The UTC of T&T invests their monies in many different companies, some of which are Halaal and others are Haraam.
While they may be able to inform their clients as to where they normally invest, they are not able to identify the specific areas (of investment) of a particular client’s finance. The Muslim client therefore finds it difficult to know (with firm knowledge) whether his wealth was invested in something Halaal or Haraam. This creates a great amount of doubts and while one may be happy with the returns of his investment, it can be of unlawful wealth.
Because of this, a Muslim should refrain from investing with the UTC.
As far as investments for a Muslim are concerned, it is allowed for him to invest in that which is Halaal (lawful) as deemed by the Shariah. As such, when he invests his wealth in lawful Companies/Businesses etc, the returns would be lawful and when he invests in Haraam (unlawful) Companies/Businesses, then the returns will also be unlawful.
In cases where the areas of investment are doubtful, the returns shall also be doubtful and based on the teachings of the Shariah, one must stay away from doubtful matters.
And Allah knows best.
Mufti Waseem Khan