['Aalim Network QR] Mutual Funds Investments

[Mustafa Rawji <mrawji@sciborg.uwaterloo.ca>]

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|       In the Name of Allah, the Compassionate, the All-Merciful       |\
|  Greeting of Allah be upon Muhammad and the pure members of his House |\
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Salaamun alaykum,

	The reply to the following question on investing in Mutual Funds that 
have shares in breweries and distilleries was kindly provided by Mulla 
Asghar.

Wasalaam,

Mustafa Rawji
Moderator, 'Aalim Network
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QUESTION:

Please reply this as per ruling of Seestani.

	Many people invest in Mutual Funds. Many mutual funds company
invests in many other companies by buying shares of those companies. If I
buy some units on Mutual funds I become a part owner of all those
companies whose shares are bought by the Mutual Fund Company. If a Mutual
Fund Company buys millions of shares of which some shares are of breweries
and Casinos and Meat Companies.They issue prospectus showing their
holdings in different companies. Can I buy units or shares of these Mutual
Funds which has some shares of breweries and Casinos and other haram
things? The income that I derive through this Mutual Fund company includes
income from breweries and Casinos as well. 


ANSWER:

It is not allowed to transact any business that involves alcohol or
gambling. (See Ayatullah Seestani's Islamic Laws pg 373 "Haraam Transactions"). 

Asgharali M.M. Jaffer