Fatwa #3641720 July 2016India
Investing in Heera Group
Question
Question: Can I invest money in Heera group. Is it permissible to invest in Heera Group. CEO of Heera group is a lady from India. I got some information regarding the Heera group, that it is done as per the Islamic shariah. Please let me know. The business is done in many countries
Answer
Answer:
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuhu
We have browsed through the website of Heera Group and hereby advise that we cannot issue a ruling until we receive more specific information regarding their product offering.
Kindly submit the following information accordingly:
1. Terms and conditions
2. Underlying investment assets
3. Profit calculation
4. External/Internal Auditing Protocol
And Allah Ta’āla Knows Best
Mufti Ismail Desai,
Darul Iftaa
Checked and Approved,
Mufti Ebrahim Desai,
Darul Iftaa