My employer currently makes contributions on my behalf to a superannuation or pension retirement fund. These funds are managed by a financial services company that invests the money in a variety of different investment plans. I have the option of selecting a specific type of fund to invest this money in. What is my Islamic obligation in this regards? Also, is it permissible to receive interest from a non-Islamic bank?
You should advise your employer or banker (or financial adviser) that you do not wish your money to be invested on immoral/unethical investments such as alcohol and pornography related businesses, and more. Also, receiving interest from the non-Islamic banks is permissible.
Answered by: Sheikh Mansour Leghaei