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Is Investing in the Stock Market Haram?

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: Regarding investment in the stock market, can you please advise if this is considered haram?


A: In regard to investing in companies on the stock market, it should be borne in mind that many of the listed companies dealings are not consistent with the Shar’ee requirements in many aspects. Hence, it is not advisable for one to invest and purchase shares in them. However, if the main business of the company one has invested in is halaal, the profits will be ruled as halaal. Nevertheless, one should study the balance sheet and wherever one comes across wealth earned through impermissible avenues, one should give the proportionate amount of one’s share of the impermissible wealth in charity without the intention of receiving any reward.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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