Mutual Funds following Shariah Law (for Muslims)

[rafzy]

Hi All

Searched the forum and couldn't find any answers for this, hence starting thread.
Does anyone know of all Mutual Funds that follow Shariah Law? These are MFs permitted for Muslims to invest.
Any help here is greatly appreciated. Thanks.

 

[VasukiVasuki is verified member.]

Hi All

Searched the forum and couldn't find any answers for this, hence starting thread.
Does anyone know of all Mutual Funds that follow Shariah Law? These are MFs permitted for Muslims to invest.
Any help here is greatly appreciated. Thanks.

Sharia law ? Muslim??
Does money making in share market has religion? Or religious belief.


@Bugs Bunny @techt @S S V @D₹V @Tejo

 

[sky_walker_rules]

What is Sharia law? Ask in a mosque to your highly educated folks rather than asking here.

 

[rafzy]

Sharia law ? Muslim??
Does money making in share market has religion? Or religious belief.


@Bugs Bunny @techt @S S V @D₹V @Tejo

Not sure you know, but a lot of Muslims don't invest into stocks or MFs just because it isn't compatible according to a key Islamic principle which states we can't consume interest. Shariah law certifies which stocks /MFs are compliant with the rules & regulations set forth enabling Muslims to invest in them.
Tauras Ethical fund and Tata Ethical funds are 2 I know. Need more info here, hence the post.

 

[HumorSimpson]

AFAIK it prohibits lending/borrowing on interest. You shouldn't be using CC in the first place.

 

[dungeonMaster]

Not only interest, it also disallows investing in stocks having very high debt compared to the profits, makes money through gambling, alcohol etc.
I had previously worked for Tata, and they have very strong ground for these ethics. They had never invested in alcohol business despite it being highly profitable and tata's having all the resources of the world to enter the same.
Instead they've bought air india back, and trying to revive it, which such a difficult sector that till now only Indigo is able to succeed in. Respect 🫡

 

[dungeonMaster]

AFAIK it prohibits lending/borrowing on interest. You shouldn't be using CC in the first place.

Unless he's paying his dues on time 🤔

 

[rafzy]

AFAIK it prohibits lending/borrowing on interest. You shouldn't be using CC in the first place.

Lending and borrowing is perfectly fine if there is no interest involved.
In CC, you can borrow and if you pay it in time, then there is no question of interest. Hence it's perfectly fine.

 

[rafzy]

Unless he's paying his dues on time 🤔

exactly . . .

 

[kunal.exe]

High time India brings a Uniform Civil Code otherwise there will be different reward systems for each religion.

 

[telescope]

Not only interest, it also disallows investing in stocks having very high debt compared to the profits, makes money through gambling, alcohol etc.
I had previously worked for Tata, and they have very strong ground for these ethics. They had never invested in alcohol business despite it being highly profitable and tata's having all the resources of the world to enter the same.
Instead they've bought air india back, and trying to revive it, which such a difficult sector that till now only Indigo is able to succeed in. Respect 🫡

Then Tata's should discontinue serving alcohol on international flights. Isn't it?

 

[telescope]

High time India brings a Uniform Civil Code otherwise there will be different reward systems for each religion.

Totally agreed on this.

 

[prash1161]

🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 🤣 fff fff fff

 

[VasukiVasuki is verified member.]

Not only interest, it also disallows investing in stocks having very high debt compared to the profits, makes money through gambling, alcohol etc.
I had previously worked for Tata, and they have very strong ground for these ethics. They had never invested in alcohol business despite it being highly profitable and tata's having all the resources of the world to enter the same.
Instead they've bought air india back, and trying to revive it, which such a difficult sector that till now only Indigo is able to succeed in. Respect 🫡

Lending and borrowing is perfectly fine if there is no interest involved.
In CC, you can borrow and if you pay it in time, then there is no question of interest. Hence it's perfectly fine.

exactly . . .

So one can tweak laws as u want 🥸