• Transactions & Dealings >> Shares & Investments

    Question ID: 46328Country: India

    Title: Fatwa on providing support services for trading in stocks

    Question: 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 ID: 46328Posted on: Sep 1, 2020

    Bismillah hir-Rahman nir-Rahim !

    (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 (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India