Working in companies that have some Haram activities : working in mutual fund companies

Fatawa Question

[Question One] : Dear Brother Assalamualaykum I am currently working for a mutual fund company in Mumbai, India (HDFC mutual fund). Mutual Funds invest in Banks, Alcohol making companies but it is less than 5 % of the portfolio. The portfolio is changing; it depends on the fund managers in which company to invest. Mutual Funds earn fund management fees out of the corpus. There are fixed maturity products also which works on interest. I want to know if this job is Halal or not ? Please answer my question at your earliest as I am in tension [Question Two] : Dear Brother Wallikum us Salam Thank you brother for your reply. You have given me freedom from my tension I am working as a relationship manager who is supposed to handle brokers who get the applications for the mutual fund. My job is managing the relationship and getting the business. Also, sometimes the brokers ask me about debt funds or fixed maturity funds which give interest and I am supposed to give them the information is this ok ? I am not responsible weather the equity fund is investing in any none Islamic company. It’s the job of the fund manager Also I want to know should I take incentive given to me on debt investment. Allah Hafiz

Fatwa

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Publication Date

2008-05-14

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-732128

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• AMA