Is it permissable to purchase shares directly from the South African Reserve Bank (SARB)?
Question
Is it permissable to purchase shares directly from the South African Reserve Bank (SARB)?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
[i]It is not permissible to purchase shares from SARB.
And Allah Ta’āla Knows Best
Khalil Johnson
Student Darul Iftaa
Canada
Checked and Approved by,
Mufti Ebrahim Desai
References (Arabic / Urdu sources)
[i]The Central Bank generates income from the following sources:
Interest earned on advances made to Government and on holdings of Treasury bills and Registered Stocks;
Interest earned on foreign currency securities and deposits;
Commissions received on foreign exchange transactions; and
Royalties and commissions earned from numismatic coin sales.
"How does the Central Bank make money? - The Central Bank of The Bahamas", accessed 08 February 2014. http://www.centralbankbahamas.com/faqs.php?cat=18&id=10139.
- Answered by
- Khalil Johnson
- Checked & approved by
- Mufti Ebrahim Desai
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