Title: About Investment in Mutual fund in India

Question: I want to invest in Mutual Fund through ICICI Bank where the risk of heavy loss is too. Is it ok to invest in Mutual Fund because there is no fund of Interest? I also want to know that according to current market scenario. What kinds of investment are correct according to Islam? Please guide me.

Answer ID: 40886Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 795/777/N=1433) (1) We learnt after research regarding Mutual Fund that the members have no option to opt for share of the company or business which they wish rather the authority has full right to invest in the company and the business which it wishes. It is most probable that your money is invested in a company involved in unlawful and haram business, hence you should not invest in it. (2) Currently there are various ways prevalent for investment. You should write the complete details of the one which you consider better and suitable as per your condition in order to know the Shariah ruling.