He borrowed a lot of money and lost it in the stock market

20-6-2010 | IslamWeb

Question:

Assalamalaikum, One of the muslim brother is loosing all his money by doing share market- in halaal shares, he took 10 lakhs from friend and invested and lost 5 lakhs from shares and still not listening to close the account and continuing the same, even though after loosing so much money, and now to repay he has to sell his property to repay. please give me quran and hadith quote to make him understand .. jazakallah. Assalamalaikum
Answer:

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) is His slave and Messenger.

 

Trade is based on profit and loss, and the stock market is included in this. However, a Muslim should be sagacious and he should seek the advice of his Muslim brothers and benefit from the experiences of those who work in trade amongst them, so that they would advise him about some fields of investment that are safer and of less risk than the stock market. It is known that investing in it is the least safe field of investment these days.

Therefore, if this person wants to continue working in trade, he should look for another field. Allaah did not put His slaves in difficulty with regard to lawful trade; Allaah Says (what means): {But Allaah has permitted trade and has forbidden interest.}[Quran 2:275]

However, a Muslim should, first of all, beware of dealing with forbidden shares or lawful shares whose transactions take place in an unlawful manner as this is one of the reasons that incur the wrath of Allaah and eradicate the blessing, and incur loss; for more benefit, please refer to Fataawa 81504 and 85042.

On the other hand, this brother should be advised not to get many loans without a necessity, as he will be held responsible about them. It is appropriate to mention here some texts that show the seriousness of the loan. It is confirmed that the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) said: "The soul of a believer remains hanging with his debt till it is paid off.” [Ahmad, Abu Daawood, At-Tirmithi, An-Nasaa’i and Ibn Maajah] Moreover, the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) said: "Every sin of the martyr is forgiven except debt..” [Muslim]

Moreover, Jaabir may Allaah be pleased with him narrated: “A man died and we washed him, perfumed him and enshrouded him, and then we brought him to the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) so that he would perform the funeral prayer on him. We said: “Would you perform the funeral prayer on him? He took a few steps and then he asked: “Does he have any debts?” We replied: “Yes, he has a debt of two dinars.” Upon hearing that, the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) went away. Then Abu Qataadah undertook to pay the debt. We, thereafter, went to the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) and Abu Qataadah told him, ‘I would pay the two dinars’. Then the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) said: “Will the creditor’s right be guaranteed and will the dead person be acquitted from debt?.” Abu Qataadah said: “Yes.” So, the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) performed the funeral prayer on him. After one day, the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) asked: “What was done about the two dinars.” Abu Qataadah replied: “He only died yesterday.” So, the second day, the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) asked him again the same question. Then, Abu Qataadah may Allaah be pleased with him said: “I have paid them off.”  Then, the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) said: ''It is only now that his skin has become cool.” [Ahmad]

Allaah Knows best.

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