I received shares in the company that I worked for (I did not pay for these shares). As a result, I receive dividends every six months in addition to my normal salary. The company owned shares in Sun International (the shares are listed on the stock exchange) through another company (company B). Sun International owns casinos as well as hotels. The company has now decided to transfer the Sun International shares from company B and then distribute it to the shareholders (the shareholders will not be paying for these shares).
I will now be receiving these Sun International shares as well. These shares have to be bought and sold through a stockbroker and I am in the process of selling these shares. Is it permissible for me to keep the proceeds? Please reply by return email
The core business and income of Sun International is from Casinos and gambling which is Haraam. It is not permissible to accept the shares of such a business even though they are offered for free.
and Allah Ta’ala Knows Best
Mufti Ebrahim Desai