Ethical Fund As Mahr: Muslim Scholar's Son's "Gold-Less Wedding" Goes Viral
Malappuram, Kerala: A marriage in Kerala’s Malappuram district is attracting widespread attention for its unconventional dowry – not in gold, but in the form of stock shares chosen for their adherence to Islamic principles. After the wedding videos caused discussions in social media and around religious circles, prominent Islamic scholar and orator MM Akbar took to Facebook to clarify widespread discussions about the Mahr offered by his son, Farsind Akbar, at his wedding.
Mahr (also spelled mehr or meher) is a mandatory gift or payment that a Muslim groom gives to the bride at the time of marriage. It is an essential part of a valid Islamic marriage contract (nikah).
Contrary to rumours that the Mahr comprised investments in the Tata Ethical Fund, Akbar clarified that it consisted of direct stock shares, not mutual fund units. “We have no association with the Tata Ethical Fund and do not wish to be linked to it,” he wrote, citing concerns over whether all companies in such funds strictly follow Islamic (halal) business practices.
“This is not a conclusion from deep study,” Akbar admitted. “Rather, it is our effort to act on the Prophet’s advice to abstain from anything doubtful in its permissibility.”
After careful consideration and research, Farsind selected 614 shares from four companies – Hyundai Motors, Nava Limited, Godrej Agrovet, and Genesys International – believed to operate within halal guidelines. Akbar stated that the selection was based on their transparency and business integrity. “Today’s online platforms make it easy to monitor investments and withdraw if a company engages in any impermissible activity,” he noted.
The decision to replace gold jewellery with stock shares was not intended to undermine traditional customs. Rather, it was a response to the wishes of the bride, Minha Habeeb, who reportedly expressed no desire for gold. Her preference for a more ethical and purposeful gift was discussed in detail between both families, including her father, Habeeburahman. “We respected her wishes entirely,” Akbar said.
Akbar further clarified that the act was rooted in personal religious convictions and not meant as a statement against gold as Mahr. “The right to demand a Mahar lies solely with the bride,” he wrote. “This was her choice, and we only tried to ensure that even this act aligned with our spiritual values.”
The post has since gone viral, sparking debates and admiration across social media platforms. Many have praised the move for its ethical and modern outlook while staying rooted in Islamic traditions.
