Transactions & Dealings >> Shares & Investments

Question # : 6678

India

Assla Alaikum. I want to know that share market & inssurance are legal or ilrgal but why.give me complete answer.thanking you. allah hafiz

Answer : 6678

Published on: Aug 6, 2008

بسم الله الرحمن الرحيم


(Fatwa: 669/669=M/1429)


 


It is a business to invest money in share market which is lawful with some conditions, while insurance is an interest based transaction, therefore unlawful. A business is lawful and interest is unlawful, as the Holy Quran said: أحل الله البيع وحرم الربوا (Allah has permitted sale, and prohibited riba/usury).



Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

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