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1. Will it be ok if I bought shares with ppc who is a cement supplier. I am a hardware retailer, and I have been told that ppc shares have been performing well. 2. I am presently also engaged in the buying and selling of Kruger rands require advise as to whether I could also trade forex trading and selling dollars

Answered according to Hanafi Fiqh by Askimam.org

1. Will it be ok if I bought shares with ppc who is a cement supplier. I am  a hardware retailer, and I have been told that ppc shares have been performing well.

2. I am presently also engaged in the buying and selling of Kruger rands require advise as to whether I could also trade forex trading and selling dollars

Answer

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

1. There are two views of the Ulama with regards to trading in Shares. Some Ulama like Hadhrat Mufti Muhammed Taqi Usmani Saheb (Damat Barakatuhum) and other senior Ulama are of the view that trading in Shares is permissible. While another group of Ulama are of the opinion that trading in shares is not permissible.

In view of the differences of opinion, there is a leeway to trade in shares. It will be Taqwaa to abstain from trading in shares.

2. Forex Trading is impermissible.

And Allah Ta’āla Knows Best

Moulana Ismail Desai,
Student Darul Iftaa
Durban, South Africa

Checked and Approved by,
Mufti Ebrahim Desai.

 

This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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