Darul Iftaa Mahmudiyyah

Oasis and Futuregrowth

· 23 Safar 1430 AH1 min readFatwa 17538English

Question

I accept your ruling regarding Oasis and Futurerowth {trading in shares being impermissibille}. I have profits from the mentioned shares since I invested when there was no ruling regarding impermissablity. Can I use the profit to pay the vat on a vehicle I am purchasing.

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatuh

The gain from the investments of Oasis and Futuregrowth is not regarded as profit but interest. It is therefore not permissible to use these interest funds to pay for VAT on any item.

And Allah knows best

Checked and Approved by:

Mufti Ebrahim Desai
Darul Iftaa

Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/17538
Fatawa SA: https://fatawa.co.za/fatwa/askimam-17538

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