Transactions & Dealings >> Shares & Investments

Question # : 46328

India

We are advisory firm for stocks. We provided support in the form of SMS of phone on various stocks like, Equity & Commodity i.e. Gold, Silver, Copper and other metals. We do not support Banking and Insurance. We do not trade on our own or trade on behalf of our client. Is it lawful to provide such service to our clients?

Answer : 46328

Published on: Aug 22, 2013

بسم الله الرحمن الرحيم


(Fatwa: 1146/1185/N=9/1434)

It is lawful to inform through SMS or call about share market and its status to those clients who are dealing in the shares in ways compliant to Shariah i.e. they buy shares of companies which deal in halal items or which have their shares only in halal business, and they (shareholders) are not selling their shares before delivery rather sell them after delivery. It is unlawful to provide information of share market to those who sell shares before delivery or those who have shares in companies dealing in unlawful items. So you should not entertain such shareholders as your client.

Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

Related Question