Today the Darul iftaa launched al mabroor investments!
Basically, dozens of people have been approaching Mufti Ebrahim Desai sahib to form a mechanism and a scheme which is 100% halal and transparent. Likewise, many companies contacted Mufti sahib to regulate their investment methods according to shariah. Many were far away from the shores of halaal investment. However, one company approached Mufti sahib and placed themselves at the disposal and discretion of Mufti sahib. They asked him to devise an investment scheme for their company which is totally shariah compliant.
After months of meticulous planning, Mufti sahib finally pieced together an investment method and process which is 100% shariah compliant from A to Z!
Today two schemes were launched:
1) Al Mabroor buffalo project
2) Al Mabroor Shari’ah Investment
Al Mabroor buffalo project is an investment scheme in buffaloes!! This product offers interested parties the opportunity to partake in the lucrative buffalo farming and breeding trade.
This investment scheme is designed upon the Islamic mode of musharakah.
Al Mabroor Shariah investment is a model to invest in property. Investors can opt to co-own a house and either opt for regular income investment or capital growth investment. This will be done by jointly buying a house and selling it with a net profit or purchasing a property and leasing it out. This will result in a steady cash flow in the form of rent.
Again, this is based on the concept of Musharakah in Islamic finance.
Now the amazing part of it! many readers must be thinking that Mufti sahib and the Darul Iftaa must be getting a six figure sum for this scheme. Well, let me tell you the reality. Let alone receiving any form of remuneration, Mufti sahib didnt charge a cent for all the pain staking consultation with these companies.
The Darul Iftaa isn’t earning a penny or a cent for their regulation and overseeing of this. It has no financial gain whatsoever. Nor does the Darul Iftaa promote or market this product. It simply helped construct a mechanism and is ready to help any business desiring shari’ah compliancy.
Mufti sahib’s only objective was to offer a product to the Muslim community which was totally shariah compliant. This amazing individual’s aim was the desire for Muslims to earn the bounties of Allah in a halal manner.
Allah reward our respected teacher and shaykh, Mufti Ebrahim Desai! Ameen!