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Forums Forums Islamic Sharia Permissibility Of 529 Accounts

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  • Permissibility Of 529 Accounts

    Posted by Ali Raza on January 24, 2022 at 10:11 pm

    I have two kids and I want to set up their 529 accounts. Some of the shariah compliant portfolio websites consider it haraam as Vanguard, fidelity, Schwab offers these accounts but their portfolios have mutual funds consisting of financial institutions (BoA, JP Morgan, Visa and Mastercard) that deals with riba. We can’t hold individual securities in 529 accounts. The other type of accounts don’t offer tax benefits.

    What is your opinion on 529 account

    Faisal Haroon replied 2 years, 1 month ago 2 Members · 1 Reply
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