Q: I want verification about the recent online gold investments (Dubai gold souk, golden premier club, etc.), where you invest a certain amount of money and wait for some weeks to get back your money with a fixed profit of like 100%/50%/150% etc. Is this ok in Islam or is it forbidden?
A: How is it that the returns are fixed whereas the gold rate continues fluctuating?
And Allah Ta’ala (الله تعالى) knows best.
Mufti Ebrahim Salejee (Isipingo Beach)