Darul Iftaa Mahmudiyyah

Is it permissible to invest with Wahed Invest?

· 16 Dhuʻl-Hijjah 1439 AH1 min readFatwa 40923English

Question

Assalam Alaikum,

I would like to know if it is permissable to invest with Wahed Invest Ltd. As per details given on the site, they invest money in a variety of shares that are deemed to be halal and lawful to invest in and also 'purify' any money that might have been acquired from unlawful sources. They take a fixed percentage fee for administering the account every year.

Answer

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

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

We have browsed through the website. The details provided are inadequate for us to comment on the product. You may contact Mufti Faraz bin Adam who is based in the UK. Visit his site here.

And Allah Ta’āla Knows Best

Mirza Mahmood Baig

Student Darul Iftaa

Jeddah, KSA

Checked and Approved by,
Mufti Ebrahim Desai.

Answered by
Mirza Mahmood Baig
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/40923
Fatawa SA: https://fatawa.co.za/fatwa/askimam-40923

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