What is the ruling on investing in investment funds managed by banks, such as the "Sanabel" fund affiliated with Abu Dhabi Islamic Bank, bearing in mind that the fund invests in Sharia-compliant securities and aims to maximize returns while reducing risks, and has its own Sharia supervisory board?
If the investment funds are supervised by an Islamic bank and have their own compliance team, then there is no harm in investing in them and benefiting from their profits. Being keen on earning lawful gains is a sign of a righteous servant, for Allah is good and accepts only what is good. Allah has commanded the believers to eat from the good things. An indication of the importance of this is that the Prophet, peace and blessings be upon him, mentioned a man whose supplication was not answered because his food, drink, clothing, and nourishment were from unlawful sources. He also said to Sa'd: "Make your food good, and your supplication will be answered."
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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