Mutual funds -- Question/Answer Board

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Subject: Mutual funds

Author:
sameer

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Date Posted: 01:53:42 08/02/02 Fri
Author Host/IP: CM008037857297-CPE009027930591-abc.cpe.net.cable.rogers.com/24.192.73.20

Assalam eu alaikum,

how good are the mutual funds can one invest in them not knowing where the money will be invested or gain profit. This could have been easly invest in non halal businesses.

please guide,
Jazak Allah

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[> Subject: Re: Mutual funds

Author:
Laila Nasheeba
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Date Posted: 04:48:32 08/03/02 Sat
Author Host/IP: dhcp024-210-245-129.woh.rr.com/24.210.245.129

As Salaamu Alaikoum,

Praise be to Allah.

There is nothing wrong with putting your money in a mutual fund. A Mutual fund does not involve Interest...it is simply a fund in the amount of whatever you put in it. And it does not go anywhere. The money just stays in that fund until you take it out.

AND ALLAH KNOWS BEST

Laila Nasheeba