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View By Subject 12 fatwas
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Impermissible to Buy Shares in Companies That Deal with Riba Except with Some Conditions
I am a resident of USA working in an oil company. I currently purchase my company’s stock as part of my retirement plan, which also helps reduce my taxes. When I initially asked our local Imams, they said that as long as the company’s business is not Haraam (ex. selling of alcohol, pork, etc.) then it would be permissible to purchase their stock,.. More
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Conditions for permissibility of buying shares
I would like to ask about dealing in shares in the case that a person who used to be a banker started a marketing company and now wants to sell his shares. Sixty percent of the shares are to be sold out to people, and profit is distributed per share on a daily basis, so my question is the following: many people purchased shares, and I also purchased.. More
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Selling unowned shares is impermissible
We deal in buying and selling US shares by means of “Short Sale” which is asking the broker to sell shares that we do not own on the basis that we will return them after a period of time in return for a commission.
For example: The share price is sometimes ten dollars and we expect the price to fall. So, we ask the broker to sell a quantity of.. More
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It is not permissible to execute a project by means of bonds
As-Salaamu ‘Alaykum,
1 - I have a construction company and I want to engage in the tenders launched by the government. The government will give me bonds that will be payable by installments when the execution period is over. The duration of the bonds will be 10 years, and the profit will certainly increase for the extended duration of debt.
2.. More
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Tax free government bonds
Bangladesh is a poor muslim country.For this, govt has made a provision of a bond for foreign job holders to invest their money where the bond holders will be excused of annual tax. at the end of apecific year, govt eill give good amount of benefit at a specific rate.Now,if you ask that wheather govt invest this money for business or not and from their.. More
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Investing in a company which has some usurious transactions
I participated in the IPO for "Dlalah" in Doha Qatar, I recently sold my stock, and collected the check for the earnings (I have yet to cash the check). I have been told that participating in this company is Haraam, because 4 of the major local banks that deal with interest have ownership stakes in it (each bank has 3 percent of the shares)... More
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Dealing in shares in certain companies
Dealing in shares as I know is permissible in Shariah. But if a company has raised it capital from debt also, apart from equity, then it means that it will pay interest also on its debt. Is it permissible to have shares of such company which operates using debt money also? .. More
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Check cashing transactions
Check cashing business is a common business in USA which consists of several types of transactions. Two of them are as follows:
- A customer comes with a check which the funds are available in the bank right away. The business then gives him the same amount in cash minus 2%.
- A customer comes with a check but the funds won't be available until.. More
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Questionable financial transactions
I work for an automotive company. As part of employee benefits for retirement, they offer 401(k) program. The company will give us some of their shares. For several years, I have been investing in my company and three other mutual funds that deal with technology companies. I noticed these mutual funds are recently keeping 0.4 percent of total money.. More
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Investing in companies which occasionally deal with banks
Is it allowed to trade in shares of companies whose main business is Halaal (like computers) but deal with banks by taking interest and loans from time to time? Is it allowed to trade in the shares of such companies if I do not intend to take any profit from the dividends? I will only take trading profit (profit from buying and selling the shares.. More
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Investing in stocks, bonds or mutual funds
What are Islam's view about investing in stocks, bonds or mutual funds?.. More
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Paying Zakah on stocks
I trade in stocks. Please let me know how does one work out the Zakat for stocks?.. More
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