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MCCA Income Fund

Answered as per Hanafi Fiqh by Fatwa.org.au
Is ‘MCCA Income Fund’ Shariah compliant?

Answer:

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

_ MCCA’s home finance package ‘Amlak’ is not Shariah compliant; hence MCCA Income Fund is also not Shariah compliant, as the money invested in MCCA Income Fund is used to provide finance for purchase of homes according to the MCCA website.
And Allah knows best.

Mufti Faizal Riza
9/1/2012

Original Source Link

This answer was collected from Fatwa.org.au, which is connected to Darul Ifta Australia, based in Melbourne, Australia.
It is operated by Mufti Faizal Riza, a student of Mufti Ebrahim Desai from South Africa.

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