Government Child Trust Fund

Everyday Islamic Finance Personal and Family Finance
#1

Assalammu alaykum,

I’ve recently turned 18 and have had the opportunity to take out my child trust fund, for a little bit of background: it was a government scheme whereby they gave families a sum of money and put it into a CTF to accumulate over time.

The type of CTF I have is a Stakeholders CTF, so there is no interest involved however I am unsure about the permissibility of the companies I am investing in.

I was wondering if it would be halal to keep this money?

Jazakallahu khair.

#2

Wasalam

May Allah bless you,
The initial amount deposited is halal for you to take. The growth will depends on whether it was from shariah compliant companies or not. If there is a way for you to find out by looking at the kind of sectors these companies were involved in, then that would be a good start.