Assalam, Sir, I want to know that intra-day trading in share mkt. is allowed in islam ? and can we trade in all type of companies,either they do not complied by parsoli corportion ltd. because in intra day there is no point of getting interest. etc. please answer me as soon as possible, thanks!
Answer
(Fatwa: 945/798=B/1429)
This is exchange of money with difference in amount and cash with cash i.e. it is bai?-e-sarf, it will never be allowed to sell it with difference on profit, it is an open interest.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband