Category: Business Matters
Fatwa#: 40913
Asked Country: India

Answered Date: Aug 28,2018

Title: Halal Investing Options

Question

Assalamualikum Mufti sab,

I'm from India and i would like to ask few investment options that would help me save a part of my salary. But when I look at various options that are available in our country, most of them seem to invest in non permissible activities. For example if i put in fixed depost, even though i dont take the interst the amount that i put is utilized to provide loans for a higher rate of interest. Simiarly are other options like Insurance. I have read another ruling not to invest in share market. Can you please provide me few options for investing my money so as to plan for my future expenses.

Jazak ALLAH khair.

Answer

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

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

At the outset your consciousness to invest in halal avenues is commendable.

Rasulullah Sallallahu Alayhi Wasallam said;

طَلَبُ كَسْبِ الْحَلَالِ فَرِيضَةٌ بَعْدَ الْفَرِيضَةِ 

Translation:

Earning Halal income is an obligation beyond other obligations. [1]

We are not aware of any effective Shariah compliant products offered by the Indian financial industry. This has been a major challenge for the Muslim community living in the sub-continent.

However, one who firmly believes that Allah is his sustainer, and tries to fulfill the orders of Allah, and stays away from sins, then Allah Taala bestows him with peace, tranquility and easiness even in this worldly life.

Allah says in Quran;

و من يتق الله يجعله مخرجا oويرزقه من حيث لا يحتسب (سورة الطلاق, اية 2-3

Translation:

And the one who fears Allah, Allah will create for him an exit. And Allah will sustain him from where he could not imagine.

(Surah Talaq: 2-3)

Consult religious experienced individuals of your field and explain your circumstances. They would be in a better position to guide you.

May Allah grant barakah in your income. Ameen

And Allah Ta’āla Knows Best

Anas Sharieff Qasmi.

Student Darul Iftaa

Hyderabad, India.

Checked and Approved by,
Mufti Ebrahim Desai.

[1] شعب الإيمان (11/ 176)

طَلَبُ كَسْبِ الْحَلَالِ فَرِيضَةٌ بَعْدَ الْفَرِيضَةِ

 

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