Transactions & Dealings >> Shares & Investments
Question ID: 1745Country: India
Answer ID: 1745Posted on: Sep 1, 2020
Bismillah hir-Rahman nir-Rahim !
(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 (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India
regarding share trading i learnt that trading shares of those companies which do not indulge in unlawful business like wine company etc is permissible. But even if we invest in companies which do not have these haram products or services, like real estate, IT, power companies, they are involved in interest based financing for their projects and ventures. Investing in them will mean partnership in a company that's financed by haram means. Please, guide whether such investments are halal.
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