Investing with DMC holdings
Q: Are you able to advise whether the shares sold by dmc holdings in Klerksdorp are sharia compliant please?
A: We have no knowledge regarding the workings of the company you are referring to. Hence we are not in a position of advising you.
And Allah Ta’ala (الله تعالى) knows best.
Checked & Approved:
Read these QA to learn more..
- Investing with a Hindu
- Mufti Saheb what is the ruling with regards to investing, buying shares eg telkom, mtn etc?Is it the same as investing in the stock market? Then due to these companies been involved in interest it was not advisable to buy shares previously. So in that case what has changed? Also is it allowed to invest and get good returns, when you physically have not worked for the final amount? I ask this because if this wealth is used for Haj, will that Haj be accepted?
- Is there Zakat on One’s Land Holdings?
- Assalamu alaikum “wrwb” i got an offer to join Bajaj Allianz life insurance company as a Asst Sales Manager (sales and marketing)at Leh Ladakh branch office last month, i joined the next day without failing to do so, as i’ve seen a growth oppurtunity in my carrer and handfull salary. on the induction phase(informal) we were given basic information on Bajaj allianz life insurance company and its differnt products.Also Trainning that involves: 1. life insurance to the insurer.(in any case) 2. how the premium (amount)is utilised in investing in india’s top 100 listed (Goi)companies. 3. an option where our money is invested in pure ways(muslim community)e.g pharma, automobile, agricultural, constructions…etc 4.And not investing in Gambling, cinema,liquor..etc.(controlled by Fund manager) 5.Growth on premium e.g 20%,30% 35% etc by investing in different 100 companies. 6. Double the amount (5yrs) according to the growth in the market by investing your money. plz, elaborate the above points according to islamic law. but, now i have stopped to go office as i realised that insurance in not permitted in islam and earning from the insurance company also not accepted according to islamic law, am i right? also, i am not geting Allah’s blessing in this carrer.
- When one has excess funds he/she tends to buy a property with the intention of getting rental income for one’s needs. As I learn there is no Zakat on the property as such but Zakat needs to be paid on the income derived from the property/properties. On the same Principle I have bought shares in Shariah compliant companies with the intention of deriving income from dividend sources. However I do not indulge in trading or speculative activities in the Stock Market. I do every year set aside Zakat from the dividends received and also as and when I happen to sell the shares I once again remove Zakat from the entire also proceeds. But I am told that irrespective of the Intent [Niyah] one needs to remove Zakat from the total share holdings based on market rate every year. Since I do not have sufficient income from other sources to cover the Zakat obligations, if I have to follow this policy I have no option but to sell part of my shares every year to fulfil my Zakat obligations. If this process continues indefinitely a day will come when my entire share holdings [my capital itself] might get wiped out. In this situation what should I do. Please Advise.
- Amaanat holdings