Is investing in mutual funds permissible?

Question

Assalam alaykum

Are Muslims allowed to invest money in mutual fund.

— Riyaz Raza, Vadodara, India

Answer

Wa `Alaykum al-Salām

Investing in mutual funds, or buying stocks mutually, is impermissible. It has the same ruling as individually investing in stocks, and Allāh knows best.

Faqīr Salmān al-Nūrī · (May he be forgiven)

Verified by Muftī Zāhid Ḥussain al-Qādirī