Investments and shares

Q: Is it permissible to have shares in banks intending to derive dividends only from bank charges income even though the money is mixed?

Q: I am investing with a group but the investment attracts 3% interest. I know interest is haram.

If the investment makes a profit and my share is given to me, can I reject the 3% of my profit which stands out as the interest to make my profit halaal?

Q: I wanted to ask a query regarding Shariah compliant index funds. I read from Muft Taqi Usmani's introduction to Islamic finance that investing in stocks is permissible based on 4 main conditions:

1. Majority of business activities being permissible,

2. Portion of income which is from Haram sources must be given to charity,

3. Majority of assets must be in illiquid form

4. One must disapprove of the company's Haram practices at the shareholder meeting.

An index fund is made up of tiny percentages of shares from each company. For example, if you invested $1000 in an index fund made up of 50 companies which are equally weighted, you'd approximately hold $20 worth of shares in each company. One such index fund is called the MSCI Shariah Index - a sample of stocks from which a company called Wealthsimple in Canada would use in creating an investment portfolio. The companies are screened based on liquidity ratios, income sources, and a purification percentage provided every so often to enable the holder of these funds to purify ones wealth. Furthermore the screening takes place to ensure most income from the company and liquidity is up to the level required. I wanted to find out if investing in such a type of scheme is halaal? The only criteria it doesn't seem to meet is the one where one must object to Haram business dealings in a shareholder meeting. As one would own such tiny percentages of these big companies, one wouldn't have the opportunity or even be part of the shareholder meetings. Kindly advise if this would be required in this situation. 

Q: Is it permissible to invest in the following company? This is the details from the company. Investment Plans is actually a Program in which Users have to Invest Amount in our Company and can get Profit Monthly till Specific Time Period. It is just like a Bank where you deposit money and get profit. Remember if you invest Money in Our Company in any Plan, then your deposit money is non-refundable after expiry time.

*Basic Plan* In Basic Plan you get Following Profit : Invest Money 30000/PKR Profit 6000/PKR Monthly Time Period 1 Year

In Basic Plan you have to invest 30000/PKR once in our company and you will get 6000/PKR monthly till next 1 Year. Profit will transfer in your Account at 1-Date of Month.

Q: I am running a business of supplies and transportation. One of my friends is interested to invest with me in a car. He wants to invest ten lac rupees for five years on a profit ratio of rs. 1500 per month. Is it permissible or is there any restriction in such an investment?

He will receive a fixed amount of rupees (15000) on his investment and if there will be any loss or damage of the car, the insurance company or myself will bear the financial loss on the car. What will be the Islamic ruling in this condition?

Q: I give $5000 to a person in pakistan for investment. He told me that he will give me monthly $300/month on the top of that money. The condition is that the amount on top of $5000 can be $300 or more or less depending upon the business sales.

The second condition is that the owner told me that I can't give you guarantee for $5000 as incase if theres a loss then he will not be responsible for the loss.

My question is, is the $300/monthly return on the $5000  halal or haram?

Q: Is it halal to buy shares in company like Apple and google?

Q: There is an investment company. The company sells sand for building purposes and transports people in busses. You can choose anyone you like to invest in. I chose of sand, then the chairman gave me form to fill, I filled, and I invested the sum of 100, 000 naira. Then the chairman signed the form that after 13 months I should come and collect 230, ooo naira both my capital and profits. 100, 000 naira my capital and 130, 000 naira is the profits. I shouldn't collect until on fixed signed date and amount fixed in the form at the beginning. They wouldn't charge me for any loss or accident when happens during the transaction because they have registered in insurance company, the insurance company will handle any losses. And the amount of profits the chairman of the company wrote down in the form at the beginning is the exactly what l should get after the date of agreement comes. Is this halal? What is your view?

Q: I want verification about the recent online gold investments (Dubai gold souk, golden premier club, etc.), where you invest a certain amount of money and wait for some weeks to get back your money with a fixed profit of like 100%/50%/150% etc. Is this ok in Islam or is it forbidden?

Q: Can I invest in mutual fund?