Q: Investing on stock market halal or 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.
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)