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Old Mutual Albarakah equity fund

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: Is it okay Islamically to invest in the Old Mutual Albarakah equity fund?

Bismillaah

A: These financial institutes are covered in ambiguity and doubt. Hence, we don’t at all encourage anybody to subscribe to them.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.