Defense Savings Certificates

Question:
My mother has a few defence savings certificates which provide her with monthly income. Rhe reutrn is an important source of income for the household as she is a widow and along with my income, it is being used to run the house. In your view, would it be permissible for a widow with no alternate source of income to invest in these certificates or would you suggest that this should be avoided at all costs?

Response:
I think you need to make a change gradually. You are in a good position to do so. I would suggest that you go for one or a few of these Islamic funds for investment. Meezan, Arif Habib and another are already in the market. UBL and Atlas and a few others are launching theirs very soon. I am a Shari'ah adviser to the latter two. I am sure returns are going to be much higher, insha'Allah. The only trouble you will have in managing your finances is going to be in the first year. I am sure you are better equipped than me to handle the cash flow situation for the first year.

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