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Fatwa #1564431 August 2007South Africa

Please specify if the following retirement policy is islamically pessimible or not.

Checked by Mufti Ebrahim Desai

Question

Please specify if the following retirement policy is islamically pessimible or not.

http://www.oldmutual.co.za/corporate/employee-benefits/retirement-solutions/islamic-product-solutions/symmetry-islamic-fund.aspx#

It is called "SYmmETRY Islamic Fund".  It is apperntly a pension/provident fund.  If this is not permissible can you please provide me of detaisl of a halaal fund where i can invest for retirement that is a pension / provident.

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

We do not approve investing in the Old Mutual Symmetry Fund.

And Allah knows best

Checked and Approved by:

Mufti Ebrahim Desai
Darul Iftaa

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