Anglo Rand investment

Q: I recently came across a Shariah compliant CFD from AngloRand and I am really bemused as to how they can offer that product when clearly they know that it is not Shariah compliant because gearing is involved and this sort of investment a person does not physically own a share in a company that they would enter into a CFD, perhaps Mufti you have heard of this type of CFD and can shed some light.


A: Unfortunately we have not heard of this.

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


Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)