Fatwa #4733222 March 2021South Africa
Could you kindly elaborate on the reasons for FEDGROUP being non Shariah compliant
Question
Asalamualaikum wr wb
Respected Mufti
Could you kindly elaborate on the reasons for FEDGROUP being non Shariah compliant according to Mufti's research (Fatwa46432) ?
Our query is purely based on learning from Mufti and no disrespect is intended
Also, does Mufti have a list of Shariah compliant investment institutions etc. that Mufti has approved and we can invest in?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
1] The Darul Iftaa was approached by the Fed Group Impact Farming to design a Shariah Compliant product for Muslim investors.
After revising the concept and contracts, a pilot project was approved. This pilot project is in process and not for general public investment.
2] The Darul Iftaa has approved the following:
1) Al- Mabroor’s Buffalo investment scheme
2) Al- Mabroor’s Cattle investment scheme
3) Al- Mabroor’s Property investment scheme
And Allah Ta’āla Knows Best
Checked and Approved by,
Mufti Ebrahim Desai.