Question Summary:
AL MABROOR INVESTMENTS – CLARIFICATION BY THE MAJLIS

Question Detail:

AL MABROOR INVESTMENTS - CLARIFICATION BY THE MAJLIS 

Answer :

AL MABROOR INVESTMENTS
 
CLARIFICATION


In the current issue of The Majlis, Vol. 23 No.12, on page 9 we have an article captioned:  AL-MABROOR INVESTMENTS.
 
In response to a question, we  answered that Al-Mabroor Investmentsare not  compliant with the Shariah, hence it is not permissible to invest in the venture. 
 
Our ruling was based on a ‘Partnership Agreement’ which  is riddled with terms and conditions in conflict with the Shariah. We were given to understand that the contract was  an Al-Mabroor  partnership agreement.
 
Muhtaram Mufti Ebrahim Desai has now informed us that the Agreement on which we had based our ruling is NOT a product of Al-Mabroor Investments.
 
In view of Mufti Ebrahim Desai’s  clarification, we retract our ruling  which appears in Vol.23 No.12 of The Majlis.
 
Since we have not studied the product of Al-Mabroor Investments, we remain non-committal at this stage.
 
The Majlis