Slms, If a person is holding money for a family member under their name and has now realised that the money is in haram investment eg premium bonds (the person thought this was halal but alhamdulillah through IFG found out it’s not)and they have told the owner multiple times that they no longer want to hold it in premium bonds as haram but the family members whose money it is are not allowing the person to move the money. Allah forgive them but they saying they taking full responsibility of the haram investment but the person should hold it for them can the person then move the money without their consent and put it in bank account and not tell them and whenever they need this money the person can give it to them but just not hold it in premium bonds. Pls note this is going on since Ramadan and if the person tell them the money has been taken out family ties will break but the person doesn’t want their name associated with haram investment pls advise jazakallah
May Allah bless you.
My understanding is that person A gave money to person B for investment purpose.
B then invested the money under his own name in bonds. Is that correct?
Slms person A gave money to person B to keep for them in premium bonds under person B name. (They have strong trust in person B)The money belongs to person A and in the past any winnings that have happened person A has been given it as the money is person A’s and person B takes no share. Person B had no problem in the past as person B thought premium bonds were halal. But now person B has realised they are not halal person B has told person A that they don’t want their name associated in bonds even though the winnjngs would always be person As. Person B feels
They would be an accomplice as money under their name. Since Ramadan person B has told person A to give consent for money to be taken out but person A stalling. To keep the peace can person B take the money out not tell person A and just leave it in an account and whenever person A wants their money person B can give it back this way no family issues and no haram dealing. Hope this makes sense
May Allah bless you and the person who is trying to move away from haram.
By God’s grace we have many shariah investments alternatives available in the UK.
My advice would be that person B removes the fund from the bonds investment, and then invest it in some secure shariah fund on behalf of person A.
In order to keep peace, person B does not have to inform person A about it.
@ibrahimkhan might share some links or inform you about which shariah investment is available on the market.
And Allah knows best!
Jazakallah for the response. Much appreciated. Allah bless the whole IFG team.
This is probably a good place to start: https://www.islamicfinanceguru.com/halal-investments/