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Is share trading in Stock Exchange halal or permitted by Islam?

Answered according to Hanafi Fiqh by Askimam.org

Is share trading in Stock Exchange halal or permitted by Islam?

Answer

In the name of Allah, Most Gracious, Most Merciful


Assalaamu `alaykum waRahmatullahi Wabarakatuh

 

After an extensive research, the Dārul Iftā’ has concluded that it is impermissible to purchase shares in the stock exchange.  For further details, please refer to the links below:

 

1.       Debate on shares.pdf ( http://www.al-inaam.com/debate_on_shares.pdf )

2.       Shares Appendix A.pdf (http://www.al-inaam.com/Shares_appendix_A.pdf )

3.       Shares Appendix B.pdf (http://www.al-inaam.com/Shares_appendix_B.pdf )

4.       Shares Appendix C.pdf (http://www.al-inaam.com/Shares_appendix_C.pdf )

 

And Allah knows best

Wassalamu Alaikum

Ml. Abrar Mirza,
Student Darul Iftaa

Checked and Approved by:

Mufti Ebrahim Desai
Darul Iftaa, Madrassah In’aamiyyah

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