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Sharia Compliant Indian Mutual Funds
I am from India. There are certain Shariah Compliant Mutual Funds here operated by big and known Fund Houses. However having made an independent analysis myself I observed that these funds are investing in equities of those companies also which don’t actually fulfill the norms of permitted portion of income from non halal sources as laid down in various Futwas on the subject. In such case do investors need to stop investing in these funds and whether capital gains already earned thereon can be used or not.
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2 Replies
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Sharia Compliant Indian Mutual Funds
updated 6 days, 1 hour ago
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What is the question brother?
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It is better to ask the respective institution/scholar about this situation whose fatwas you are following.
As a general understandng on mutual fund investments from our point of view:
Your preference should be that you pick the ones that don’t make investments in Haram businesses. And if there is no such choice available, then atleast one should choose those funds where significant portion of their investments are made in Halal businesses, and its best that proprotion of income of fund earned through objectionable/haram investments, however insignificant, be given in charity.
Please also refer to the video below from 27:24 to 28:26
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