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MTN Zakhele Shares are NOT Shariah Compliant

After due consideration of the MTN Zakhele share offering and consultation with Ulama our considered opinion is that the said share offering is not in conformity with Shariah principles, largely based on the fact that the offering is structured on the basis of interest based funding that is prohibited in the Shariah. Accordingly, it is not permissible to invest in this offering from a Shariah perspective.

And Allah Ta'ala Knows Best

Shafiq Jakhura (Mufti)
Fatwa Dept.

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