Question # : 8651
India
Asslamo Alaikum, Confusion about investment share market I want to invest in share market.Can you please give right avidence for invest in the share market,Because i have lots of doubt in my mind related in this type investments.Like this right or wrong in the light of shariah????? .Is there any perticular list of campany chosen by shariah board in which we can invest our money or we can invest in any campany in the market??? Or if you can send me a any clearification documents which had been published by any authorized Mufti of Deoband in realtaed to share investments.
Answer : 8651
Published on: Nov 24, 2008
بسم الله الرحمن الرحيم
(Fatwa: 1443/240=TL/1429)
Buying and selling shares is allowed with the below conditions: (a) the company should not be involved haram transactions (b) the assets of the company are not only in cash rather it has some frozen assets too like building, land or it has actually started business and this is known surely. Otherwise, buying and selling shares with difference is haram. (c) Having joined the company if it is known that the company is involved in some interest-based transactions, one should raise voice against it in annual meetings. (d) while receiving dividends, the interest part of the profit should be distributed in the poor without any intention of reward. (e) by buying and selling shares one should aim at partnership instead of earning profit by levelling the difference (in which neither the shares are possessed nor the possession is meant); since it is like satta which is haram. (For detail see: Fiqhi Maqalat, by Mufti Muhammad Taqi Usmani)
Allah knows Best!
Darul Ifta,
Darul Uloom Deoband
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