Need to invest

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

As-salamu alaykum wa-rahmatullahi wa-barakatuh.

Sister in Islam,

It is commendable to note your desire to grow your wealth in a halal way.

In principle, to ensure the Shariah compliance of any investment, two things are required. The first is a Shariah compliant vehicle that is based on trade and not debt. The second is real economic activity that yields profit. Where a return is promised without exposure to genuine risk, or where it is drawn from lending rather than trade, it falls into riba and is not permissible.

Accordingly, this can be achieved in one of two ways, through private deals or through organizations that manage wealth in a Shariah compliant manner. As for private deals, you may forward us the details and we will provide our opinion on whether the arrangement is compliant.

As for institutions, then according to our organization there are three avenues in Canada we are comfortable directing you toward. The first is Manzil, which offers halal home financing and asset backed investment funds. The second is Shariah Portfolio, which manages screened, compliance driven portfolios. The third is Lifelong Investments, a company that invests in real estate and provides a return to its investors.

This advice is given strictly in relation to Shariah compliance and is not financial advice. You are advised to obtain proper financial advice before committing your capital.

Allah knows best