Is it permissible to invest with Wahed Invest?
Question
Assalam Alaikum,
I would like to know if it is permissable to invest with Wahed Invest Ltd. As per details given on the site, they invest money in a variety of shares that are deemed to be halal and lawful to invest in and also 'purify' any money that might have been acquired from unlawful sources. They take a fixed percentage fee for administering the account every year.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
We have browsed through the website. The details provided are inadequate for us to comment on the product. You may contact Mufti Faraz bin Adam who is based in the UK. Visit his site here.
And Allah Ta’āla Knows Best
Mirza Mahmood Baig
Student Darul Iftaa
Jeddah, KSA
Checked and Approved by,
Mufti Ebrahim Desai.
- Answered by
- Mirza Mahmood Baig
- Checked & approved by
- Mufti Ebrahim Desai
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