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What Should One Do if One Finds Out His Stocks Are Non-Shariah Compliant?

Answered by: Shaykh Ahmed Bin Mohamed Umarji

Question:

If someone bought stocks of a company that was shariah-compliant at the time of purchase and after a few weeks or so that company was placed as questionable and then after as Shariah non-compliant. So what should a Muslim do in such a situation? Is he obligated to sell off and get out and what about any profit earned, is it halal or what?

In the name of Allah, the Most Gracious, the Most Merciful

Answer:

The percentage of what comes from shariah non-compliant avenues should be given away in charity without the intention of reward.1

If the company becomes completely shariah non-compliant the stocks should be sold and the profits earned after the stock became shariah non-compliant should be given away in charity.

Only Allah knows best

Written by Shaykh Ahmed Bin Mohamed Umarji

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

1 Contemporary Fatawa [Mufti Taqi Uthmani], Page 153, Idara-e-Islamiat Lahore Karachi Pakistan 200

This answer was collected from DarulIftaBirmingham.co.uk, which is run under the supervision of Mufti Mohammed Tosir Miah from the United Kingdom.

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