• ICP Web

Ruling on 401K

Question

Asalamualaikum sheikh. Can we have 401k from the company that one is working with. How should one approach this masala from Islamic point of view. Jazakallah khair Answer: ﺑﺴﻢ اﷲ اﻟﺮﺣﻤﻦ اﻟﺮﺣﯿﻢ In the name of Allah, the Most Gracious, the Most Merciful

The ruling of 401K will be based on the type of Fund/Company one is investing the money in. Hence, if the money is invested in a Sharia Compliant Fund/Company, then it would be permissible. On the other hand, if the Fund/Company is non-Sharia Compliant, then it would be impermissible.


Only Allah knows best

Written by Maulana Mohammad Ahsan Osmani Checked and approved by Mufti Mohammed Tosir Miah Darul Ifta Birmingham

22 views0 comments

Recent Posts

See All

Question: Is Forsage Halal? Answer: In the name of Allah, the most Gracious, the most Merciful, Assalamu Aleikum wa Rahmatullahi wa barakatuhu Dealing in any Cryptocurrency business is not halal in Is

*Question:* Assalam u Alaikum wa rahmat ullah. I wanted to know if it is permissible to work as a software engineer for a company which has a 3D texturing software and a 3D library of natural objects,

Question Is it permissible for the Masjid board to purchase gift cards, as a token of appreciation, for maktab teachers using Masjid operations money? بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم In the name of