Q:
1. Hermes is a fashion brand and its name was taken from a Greek figure. However, the bags do not have the Greek symbol for Hermes. Is it permissible to sell the bags anyway? What I mean with Greek figure is Greek ‘god’ (their words, not mine).
What about selling Louis Vuitton bags or Jordan Sneakers. Their name doesn’t represent a ‘god’. Just a person.
2. My second question is about day trading. First of all, is day trading stocks (non-haram businesses) permissible. And what about day trading crypto. So, trading ARK for BTC. Both are cryptocurrencies. Is this trade a form of riba because it seems like it is a ‘gold for gold’ trade (both cryptocurrencies, but they have different values and meanings).
3. You said that investing in halal companies is permissible, however the interest that they are involved in is totally forbidden. But does that make my earnings forbidden (and does it come in the category of ‘witnessing riba’)?
A:
1. How can you sell a commodity that has kufr and shirk.
If they are names of kuffaar, fussaaq and fujjaar then this is undesirable.
2. Presently we discourage trading in the stock market on account of the several wrongs that are associated with it.
We have not yet did the full research on cryptocurrencies. The ruling of the shari`ah is that you will abstain from things that you are not clear about.
3. If the company’s main business is interest then investing with them is impermissible.
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Mufti Ebrahim Salejee (Isipingo Beach)