Question Summary:
Global Ethical Funds

Question Detail:

I have question regarding Global Ethical Funds see website.

Answer :

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

We are not aware of the above-mentioned fund. In order for us to issue a ruling regarding the Shariah compliancy of any fund claimed to be Shariah compliant, the following three points must be considered:

1)    The concept of the fund

2)    The contracts

3)    The procedure to monitor the application of the contracts.

Each one of the three points are equally important. If there is a defect in any one point, that will compromise the Shariah compliancy of the product.

And Allah Ta’āla Knows Best

Riḍwān

Student Darul Iftaa 

UK

Checked and Approved by,
Mufti Ebrahim Desai