IslamQA

Buying and selling shares

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: Is it permissible to do share marketing. For example, I bought 100 shares of Reliance Communication for 35 Indian rupees per share. Suddenly the share value increased to 38 Indian rupees. So I sell the 100 shares on the same day and got a profit 300 Indian rupees. Is this halaal or not?

Bismillaah

A: If the operation of the business is halaal and you sell the shares after you get full ownership of them then it is permissible.

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

 

Answered by:

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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