INDIA: Darul Uloom Deoband, a local Islamic seminary, has issued six Fatwa on the involvement of Muslim investors in the country’s capital market.
The Fatwa allows investors to make equity investments in companies that abide by Shariah principles and to invest in movable and immovable assets.
Additionally, the Fatwa emphasized the need for Muslim investors to make a partial profit distribution to the poor and informed decisions before investing in the stock market.
The Fatwa also requires investors to voice their objections should a Shariah compliant company derive its income from interest-bearing activities and warns against investing in companies whose sole objective is profit maximization.