Trading on the stock exchange
Category:
Business Dealings & Money Matters
According to Madhhab:
Hanafi
Reference:
1440-281
Question:
Regarding the stock
exchange
Is it permissible to invest in the stock exchange by ensuring that we abstain from
buying share in companies that have haram products and services?
Also there are a number of Islamic investments like FNB islamic
investment,Oasis etc etc.These companies invest in the stock exchange.Can I as
an individual invest in these companies
exchange
Is it permissible to invest in the stock exchange by ensuring that we abstain from
buying share in companies that have haram products and services?
Also there are a number of Islamic investments like FNB islamic
investment,Oasis etc etc.These companies invest in the stock exchange.Can I as
an individual invest in these companies
Answer:
This issue of investing on the stock market has always been a controversial issue amongst the scholars with some permitting it and others not being in favour of it. We at the Darul Ifta do not approve of investing and trading on the stock exchange.
In conclusion we advise that you to abstain from trading directly on the stock exchange and further refrain from investing with a company that will be investing or trading on the stock exchange on your behalf.
And Allah Ta'aala knows best
ANSWERED BY: Mufti Mohammed Desai
CHECKED AND APPROVED BY: Mufti Muhammed Saeed Motara Saheb D.B \
Date: 23 Jumadal Ula 1440 - English Date: 30 January 2019