Oasis Asset Management in South Africa
Posted: 16 Jamad-u-Thani 1423, 25 August 2002
|Q.) There is an investment company by the name of Oasis Asset Management in South Africa. I want to find out whether to invest with it is halal or not. [Yusuf Mitha]|
A.) We have had a direct meeting with the board of Oasis.
As yet, we are not satisfied that these funds are Shari'ah compliant. The board members themselves have distinctly displayed that they are still getting their act in order. Until we are fully satisfied, we cannot declare investing in such funds to be halal.
The onus now lies with Oasis to resolve the concerns that we have expressed, and convince us that all their transactions are above board. If this can be achieved, we would gladly declare investing in such funds as halal. And Allah Ta'ala Knows Best