Transactions & Dealings >> Shares & Investments

Question # : 1679

India

Assalamu-alikum I want to work in National Stock Exchange, Mumbai. Is stock exchange work halal or haram ( Stock exchange works Shares business Buying shares and selling shares ) please answer immediately to my email. Thanking you

Answer : 1679

Published on: Oct 9, 2007

بسم الله الرحمن الرحيم


(Fatwa: 552/551=M)


 


By work in stock exchange, if you mean share business then there are some conditions which are required. First of all, the company should be dealing in halal items. Secondly, the assets of the company should not be liquid but frozen. Thirdly, if the company involves in some interest based transaction this should be opposed. Fourthly, at the time of receiving dividend/profits the interest amount should be given away as charity.



Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

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