Investing in Mutual Funds

Is it permissible in Islam to invest in mutual funds?

It is allowed to invest in such mutual funds which invest the money of shareholders in companies which deal only in halal business and if the shares bought are certified as Shariah compliant by a credentialed Shariah board. And the trading of the shares done the mutual fund is in accordance to Shariah. The investments in conventional Mutual fund is not permitted as they are not at all Shariah compliant  
 

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