FatwaNationalTransactions & Finance
Hukum Pelaburan Yang Dijalankan Oleh Syarikat Mecca Fund Global
Is the investment scheme run by Mecca Fund Global valid under Islamic law?
Short answer
The 107th Muzakarah of the National Fatwa Committee (10-11 February 2015) ruled that the Mecca Fund Global scheme does not follow the true principles of mudharabah and is not valid under Islamic law.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- National Fatwa Committee (JAKIM)
- Date
- Status
- Fatwa committee decision
- Series
- Kompilasi Pandangan Hukum Muzakarah Jawatankuasa Fatwa MKI (JAKIM, terbitan 2016)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The 107th Muzakarah of the National Fatwa Committee (10-11 February 2015) ruled that the Mecca Fund Global scheme does not follow the true principles of mudharabah and is not valid under Islamic law. Among the reasons, investors must buy lots offered by the company owner, capital may be lost, and there is uncertainty over profit rates and capital. The scheme also breaches national law by taking deposits without Bank Negara Malaysia's permission, and Muslims are advised not to take part.
Written in our own words from the original fatwa — check the source before acting on it.
Pelaburan yang dijalankan oleh Mecca Fund Global adalah tidak mengikut prinsip mudharabah yang sebenar dan tidak sah mengikut hukum syarak.
Read the full fatwa on the National website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
National Fatwa Committee (JAKIM). “Hukum Pelaburan Yang Dijalankan Oleh Syarikat Mecca Fund Global”, 11 February 2015. https://www.islam.gov.my/images/ePenerbitan/KOMPILASI_MUZAKARAH_MKI_2016.pdf#hukum-pelaburan-yang-dijalankan-oleh-syarikat-mecca-fund-global. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/is-mecca-fund-global-investment-valid/