What is the ruling on investing in an investment fund that invests in shares listed on the Egyptian Exchange and in investment instruments with fixed and variable returns, and distributes semi-annual profits?

Investment funds managed by usurious banks do not adhere to Sharia (definition) compliance, whether regarding usurious interest or the purchase of shares in prohibited companies. The violation might stem from the speculative stock market system, which is based on impermissible practices according to Sharia. Therefore, it is not permissible to subscribe to an investment fund unless its prospectus declares it to be Islamic, and it is known from its nature and the nature of its operators that it adheres to Sharia guidelines.