Q: I am by profession a freelancer and also a teacher. In the current situation I have observed that giving education has emerged as an industry to earn hefty amounts. There are different cases that I have observed. Academies just know to snatch fee in different ways. I have aim to provide free quality education. But my problem is that I cant support all at a once. For that I have come across an asset management company. Where our individual investments are invested in various other company’s stock, shares, debentures, debt securities. They disburse the payments in case they earn the profits. These companies have policy to stand equally responsible in terms of losses. As for profits are concerned we are not given a fixed percentage, instead proprtionate to profits. I am wandering whether to invest in such companies in order to support the poor students. I am bit confused that if these companies invest in such activities where they will generate interest income. Whether i can use these profits or income for the betterment of poor students. So that they may avail the opportunities in education. I want to provide them a platform where their dreams may come true.
Please guide me whether I can invest in such company and can utilise that amount just for the sake of spreading education. And give them relief from such academies, who are just cutting their pockets. Please help me in achieving my goal.
A: If the main business of the companies you wish to invest your wealth in is halaal, it will be permissible to invest in such companies. For further details refer to http://muftionline.co.za/node/2024
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)