Darul Iftaa Mahmudiyyah

Is it permissable to purchase shares directly from the South African Reserve Bank (SARB)?

· 10 Rabiʻ II 1435 AH1 min readFatwa 28256English

Question

Is it permissable to purchase shares directly from the South African Reserve Bank (SARB)?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

[i]It is not permissible to purchase shares from SARB.

And Allah Ta’āla Knows Best

Khalil Johnson

Student Darul Iftaa
Canada

Checked and Approved by,
Mufti Ebrahim Desai

References (Arabic / Urdu sources)

[i]The Central Bank generates income from the following sources:

Interest earned on advances made to Government and on holdings of Treasury bills and Registered Stocks;

Interest earned on foreign currency securities and deposits;

Commissions received on foreign exchange transactions; and

Royalties and commissions earned from numismatic coin sales.

"How does the Central Bank make money? - The Central Bank of The Bahamas", accessed 08 February 2014. http://www.centralbankbahamas.com/faqs.php?cat=18&id=10139.

Answered by
Khalil Johnson
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/28256
Fatawa SA: https://fatawa.co.za/fatwa/askimam-28256

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