Darul Iftaa Mahmudiyyah

Please specify if the following retirement policy is islamically pessimible or not.

· 18 Shaʻban 1428 AH1 min readFatwa 15644English

Question

Please specify if the following retirement policy is islamically pessimible or not.

http://www.oldmutual.co.za/corporate/employee-benefits/retirement-solutions/islamic-product-solutions/symmetry-islamic-fund.aspx#

It is called "SYmmETRY Islamic Fund". It is apperntly a pension/provident fund. If this is not permissible can you please provide me of detaisl of a halaal fund where i can invest for retirement that is a pension / provident.

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

We do not approve investing in the Old Mutual Symmetry Fund.

And Allah knows best

Checked and Approved by:

Mufti Ebrahim Desai
Darul Iftaa

Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/15644
Fatawa SA: https://fatawa.co.za/fatwa/askimam-15644

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