Investing in Heera Gold company

Submitted by admin on Sat, 2016-10-29 14:53

Q: Is investing in Heera Gold company halaal or haraam. The company says that it is halaal because it trades in gold, textiles and other products and does not deal in riba. If we invest about one laakh rupees we would get approx 3000 rupees per month and we can take our amount of one lakh when we want. It says that there is 60 -40 partnership and we are also entitled to loss. There is lots of people who invest in this company thinking it's halaal so could you please research on this company and give fatwa on weather it's halaal or haraam?

A: We do not have the details of their workings. So we are not in a position to comment.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

Business and Dealings›Investments and shares

Labels:

Disclaimer: The answer hereby given is specifically based on the question asked and should be read together with the question asked. Muftionline.co.za bears no responsibility to any party who may or may not act on this answer. Muftionline.co.za being hereby exempted from loss or damage whatsoever caused. Should the question refer to a matter in dispute between two parties, this answer may not be used in the dispute in question by either party unless the question was jointly submitted by both parties with an acknowledgement by both parties that the question was correct and accurate. This answer may not be used as evidence in any court of Law without prior written consent from Muftionline.co.za.

This is the standard version of the site.