Ask Qul - Sale / Purchase - Buying and Selling shares

Pearl of Wisdom

'This community acts upon the Book of Allah for a little while, then it acts upon the practice of the Prophet of Allah for a little while, then it acts upon its own opinion. And when they act based on their own opinion, they themselves go astray and lead others astray too.'

Prophet Muhammad al-Mustafa [sawa]

Kanz al-'Ummal, no. 915

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Question : #439

Category: Sale / Purchase

Subject:	Buying and Selling shares
Question:	What is the ruling of buying and selling the shares of incorporated companies or others?
Answer:	It is permissible to buy and sell shares of any kind of corporation on the condition that the transactions of this company do not engage in prohibited activities such as dealing in intoxicants or interest (riba).

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