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I want to know that it is haram or halal in investing share market.becoz there are different jamaat according to each there are different views i am from tableeg jamaat give further conclusion. please reply by expert mufti’s views.

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
I want to know that it is haram or halal in investing share market.becoz there are different jamaat according to each there are different views i am from tableeg jamaat give further conclusion. please reply by expert mufti’s views.

Answer

(Fatwa: 75/48=H/1429)

 

It is lawful if within lawful limits, otherwise not. The conditions of being lawful are hereunder: (1) The company in which you are investing does not deal only in haram items like only interest-based transactions etc. (2) All the assets of company are not in form of cash only, rather it owns some building, property and goods. (3) If the business of the company involves some haram part as well, then in order to avoid haram you and other Muslim shareholders should keep on diverting the attention of the company to it. (4) and as much haram (like interest) is received in your dividend you should give it in charity to the poor and needy without an intention of reward just to get rid of the curse of haram. (5) By purchasing shares one should aim at having partnership, not only profiting by levelling differences. If these conditions are met dealing in shares will be allowable, otherwise not. Instead of looking at different views, look at the conditions and then proceed ahead.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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