[Investing in mutual fund]

Fatawa Question

As-Salam `Alaykum ! I have invested in equity linked saving scheme, a form of mutual fund where company invest in stock maple and give dividend (profit). Company is investing in so many products, from infrastructure, mines, petroleum, to film also. I have no clue whether my money is being used in Halal or Haram thing. In fact when I tried to ask the representatives, they said it's simply impossible to trace the small money in such a big multinational company. Will accepting this money be right for me ? This company is also providing me health insurance in ties form of bearing any medical or surgical expenses of illnesses, source of money is not interest based but profit based from stock market, but always guaranteed (whether in loss or in gain). I'm worried accepting such money will be right or wrong ? Please help !

Fatwa

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Publication Date

2008-04-20

Main Subjects

Economics & Business Administration
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Investments
• Stocks
• Mutual funds
• Bank deposits

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-732549

• APA
• MLA
• AMA