Fatwa #4728622 February 2021United States of America
Investing in prisons as real estate
Question
Salaam Muftisaheb
Jzk for all of your services. Regarding investments and permisibility are real estate stocks (reits) in private prisons acceptable? These reits purchase and build the infrastructure for private prisons in the USA. Jzk.
Answer
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In the Name of Allah, the Most Gracious, the Most Merciful.
Respected Brother in Islam,
The nature of the proposed investment in real estate stocks is unclear. Please clarify the following:
1) The investment policy with the company.
2) Whether the investment will be in the shares of the company or directly into the real estate.
3) The detailed contracts, should there be any between the investor and the company.
Forward your clarification to admin@darulifta.net, reference Ebrahim Dadan.
And Allah Ta’ala Knows best
Ebrahim Ibn Ahmed Dadan
Student Darul Iftaa
Pietermaritzburg, South Africa
Checked and Approved by,
Mufti Ebrahim Desai.