Category: Financial Transactions
Fatwa#: 36417
Asked Country: Oman

Answered Date: Jul 20,2016

Title: Investing in Heera Group

Question

Question:  Can I invest money in Heera group. Is it permissible to invest in Heera Group. CEO of Heera group is a lady from India. I got some information regarding the Heera group, that it is done as per the Islamic shariah. Please let me know. The business is done in many countries

Answer

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuhu

We have browsed through the website of Heera Group and hereby advise that we cannot issue a ruling until we receive more specific information regarding their product offering.

 

Kindly submit the following information accordingly:

 

1. Terms and conditions

2. Underlying investment assets

3. Profit calculation

4. External/Internal Auditing Protocol

 

And Allah Ta’āla Knows Best

Mufti Ismail Desai,

Darul Iftaa

 

Checked and Approved,

Mufti Ebrahim Desai,

Darul Iftaa

 

 

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