Darul Iftaa Mahmudiyyah

Inheritance from my fathers Oasis Crescent Equity Fund

· 2 Rabiʻ I 1428 AH1 min readFatwa 15013English

Question

My father passed away some time ago . I had received an amount as inheritance. This amont was invested for me in the Oasis General Equity Fund . After some time , I found out this investment was no longer halaal . My initial invesment as well as the profits I had earned from this investment were withdrawn . It was then put in the Oasis Crescent Equity Fund.Recently I belive that is also now doubtful.

I want to withdraw my money from this investment . What i need to now is the ffg. :

Do I subtrat the profits ive used from my initail investment and withdraw the balance of initial investment , or do I withdraw the whole initail investment as was ?

What can I do with profits , Is it permissible to give as charity ?

Is there any investments that are Shariah compliant for me to invest in ?

Jazakallah.

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

Your email of 26 February 2007 refers.

The original capital is permissible. You may thus use the R300 000. The "profits" earned should be given away in a charitable cause.

And Allah Ta'ala knows best

Checked and approved:

Mufti Ebrahim Desai Saheb.

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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/15013
Fatawa SA: https://fatawa.co.za/fatwa/askimam-15013

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