Egypt’s Dar Al-Ifta said “investment certificates” are permissible (halal) according to the Islamic Sharia.
An investment certificate is like a finance agreement, and it cannot, by any means, be considered a loan agreement, the Egyptian fatwa authority explained in a statement on Tuesday evening 22/3/2022.
Dar Al-Ifta added that finance agreements belong to the modern contracts category, which are without precedent in traditional jurisprudence (Fiqh); therefore, they are permissible as long as they do not involve any harm or deceit.
It also noted that the profits yielded through these certificates, whose higher purpose is to promote savings and buttress the national economy, are halal.
Source: State Information Service Egypt