Transactions & Dealings >> Shares & Investments

Question # : 1745

India

Is it allowed to make entry in share market (Satta Bazaar) according to islam? Plz explain.

Answer : 1745

Published on: Nov 3, 2007

بسم الله الرحمن الرحيم


(Fatwa: 596/584=D)


 


It is allowed to purchase the shares of any company for business or investment with some conditions. But the satta (fixing/gambling) which is nowadays going on in share market is disallowed and haram. This is not intended to purchase share and own it, neither one takes possession of the purchased items, but only oral transaction takes place. This is gambling, thus unlawful.



Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

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