Can one invest in Phutuma Nathi shares?

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Question:

Assalaamualikum Mufti Sahib

Can one invest in Phutuma Nathi shares?

Answer:

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

As-Salāmu ‘Alaykum Wa-Rahmatullāhi Wa-Barakātuh.

In principle, a person will be allowed to invest in any company that adheres to the laws of Shariah.

Based on the information provided by Phutuma Nathi, the income received is from the company Multichoice. Multichoice is a company that provides video entertainment to people and this is deemed haram. Therefore it will not be permissible to invest in Phutuma Nathi shares.

And Allah Ta’ala Knows Best.

Mohammad Peer

Student Darul Iftaa
Harrismith, South Africa

Checked and Approved by,
Mufti Muhammad Zakariyya Desai.

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AAOIFA, Shariah Standards (2015) pg:562-568

Introduction to Islamic Finance pg207

المعايير الشرعية  Page 363-364

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