Fatwa #1101226 February 2004South Africa
Is it permissable to acquire telkom shares??Even if they deal in a permissable product their monies are kept in call accounts which earn a high rate of interest which will be distributed as profit.
Answer
It is permissible to acquire Telkom shares. However, since part of the dividends is made up of interest, a proportionate percentage of the profit or dividend will be Haraam. This portion will have to be disposed off as interest.
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai