Tuesday 17 April 2012

Investment in ASB and ASN




National Council of Fatwa in Malaysia decided that investment in ASN and ASB is permissible.


The question of the economic strength of nations is one important factor to the continuation of the progress of Muslims.

Every law that decided to meet the demands of justice, maslahah and avoid the damage and destruction is greater. In this case, Maybank is the largest Islamic banking institutions in the Asia Pacific region. If the PNB took its share from Maybank, it will not only jeopardize the economy of the majority shareholder which is the Malay Muslims, but it will also greatly affect the economic situation of countries and many Muslim related organizations. Similarly 16.531 jobs involving Muslim Bumiputera staff will also be affected

In determining the permissibility of Islamic arguments in ASN and ASB investments, it is not exactly the argument based on community maslahah construed to waive the principles of Islam because Islam maslahah is also a principle that should be held to determine a ruling.

In this case, the law on investment ASN and ASB can not be viewed from a certain aspect, but to consider all consequences to be faced by Islam and Muslims.
On the issue of permissible investments and illegal, it became clear that the PNB do not invest in sectors related to alcohol and gambling. Mixing in investment only occurs in the financial sector, where 70% of investment Syariah only 30% investment in Maybank still not comply with Shariah.In this case, the investment in the halal sector more than the illegal one.According to most of the jurists of the Hanafi, Maliki, Shafi'i and Hanbali, the jurists did not prohibit such companies when assessing the status of the company's shared by Muslims and non-Muslims.

PNB has implemented changes in particular, the best investments to enable control of the Muslims. In this case, it is important maslahah Muslims and the greater harm is avoided

However, State Fatwa Committee of Selangor decided that investment in ASN and ASB is haram.


This is based on the hadith narrated by Jabir Al-Ja'fifrom Ibn Mas'ud:


ما اجتمع الحلال والحرام إلاغلب الحرام الحلال "Do not mix between the clean and unclean, but defeating thelawful unlawful. "



Skim Amanah Saham Nasional (ASN) and Amanah Saham Bumiputera(ASB) are clearly involved in a mixed investment between Shariah compliance non-compliance transaction.
Skim Amanah Saham Nasional (ASN) and Amanah Saham Bumiputera(ASB) are classified as non-compliant unit trust funds sharia by the Securities Commission Shariah Advisory Council for their involvement in investment does not pass the syariah requirements.

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