Mufti Online — Madrasah Ta'leemuddeen

Investing in the stock market

· 10 Rabiʻ II 1446 AH1 min readEnglish

Question

Please advise if investing in shares in publicly listed companies which sell the following is permissible or not:

1. A Distribution/Retail business whose main business is pertaining to selling foods, cosmetics, appliances, bakery, butchery (haraam meat also sold) sells alcohol also.

2. A mining, telecommunications or property holding companies that has conventional bank loans and fixed deposits that earn interest?

Answer

As far as the stock market is concerned, then on account of the many discrepancies and inconsistencies with the laws of Shariah, we do not approve of dealing in the stock market.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/35178
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-35178

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