[Answered]Shares

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smak786110
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[Answered]Shares

Postby smak786110 » 23 Aug 2009, 11:30

As per my knowledge,we arent allowed to buy shares in a company whose products are haraam in Islam !

But, buying from Primary Market (which is when the company comes in Stock Exchange) is when the money goes directly to the company...
After the period of time, it goes to Secondary Market (where shares are traded between buyers and sellers) the money is rotating between shareholders only. And nothing goes to the company itself !

Are we still not allowed to buy it from the secondary market ?
Even if we give away in charity the dividends we receive at the end of the year and gain only on the increase on the price ?
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Re: Shares

Postby Sheikh Razi » 15 Oct 2009, 01:41

As long as such money is exchanged in the compensation of the HARAAM
products or such products are exchanged in the form of its shares,
then such should not be exchanged , and the profit gained from such exchange
is not permissible and cannot be used spent in good deeds. Such profits
must be returned to its Muslim owner if known, and if the Muslim owner was
unknown, then it is given to the poor on the behalf of the Muslim unknown
owner.

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