Home » Hanafi Fiqh » Muftionline.co.za » Purchasing shares in a bank

Purchasing shares in a bank

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: Is it permissible to have shares in banks intending to derive dividends only from bank charges income even though the money is mixed?

Bismillaah

A: Some of the bank charges are of a permissible nature and some are of an impermissible nature. Hence, how will you be able to distinguish the permissible from the impermissible. Further, the major operation of the bank revolves around haraam, and they are not going to be concerned of refraining from it. Hence, you should not invest in a bank.

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.

Read answers with similar topics: