Fatwa #1174526 May 2004South Africa

Is The Oasis Cresent Equity Fund Shariah Compliant ?

Question

Respected Mufti Saheb This question was posed to you and published on this website in October 2002. At that stage no definative answer was given to whether the Oasis Cresent Equity fund was Shariah compliant as claimed. I would like to know of any new development with regard to this matter and whether the fund is Shariah compliant. I thank you in advance

Answer

Our view regarding Oasis is the same. There were no further developments.

Oasis did not meet with us to dispel our misgivings regarding the fund.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

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