Friday, July 12, 2024
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Investment in Stocks/Crypto/Mutal Fund

Fatwaa ID: 1500

My question is regarding investment in stocks/Crypto/mutal funds ? If you are carrying cash savings to buy a house in future what is the guidance on investments?

Specially in USA we don’t gave Islamic finance institutions for Car finance or mortgage what is the best way to buy a house of you do not have enough cash ?

In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

  1. In regards to stocks and crypto, you may refer to the following fatwaa, The same applies to mutual funds.
  2. We do not provide financial advice nor is that our domain. You may consult an experienced financial advisor for that.
  3. There are a few Shari’ah compliant financial institutions in the US that you may consider for using to purchase a home. Some also have car financing options in some states.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York

12/28/1444 AH – 07/16/2023 CE | 354

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين


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