Investing in Kruger coins through FNB
Submitted by user2 on Sun, 2021-10-24 07:05
Q: FNB offer a service where one can invest in Kruger Rand gold coins through them. They then store it for you at a fee of 0.86%pa.
-If one wants to sell the coin back to them, its done at the click of a button.
-If one wants the physical coin, they can arrange for it to be delivered to you at a cost.
-Prior to requesting the coin, I'm not sure if they keep the physical coin or not.
Please advise if it will be permissible to purchase a coin through them in this manner.
A: If you purchase the coin from them and take physical possession of it, it will be permissible. Thereafter, if you wish, you may keep it with them and pay them a set fee for safekeeping.
And Allah Ta'ala (الله تعالى) knows best.
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