Q: I am an active stock investor, My question is that I invested in a company which was halal almost 2 years ago but as of now, it’s interest bearing debt is 71.2% and before it was halal because it’s interest bearing debt was less than 30% of it’s market capital. I use a stock screener which showed it was halal.
So, what should I do in this case as it was halal at the time of investing; Should I sell it with profit because it was halal at that time? Should I sell it with no profit? or keep the stock in my portfolio until it becomes halal again?
A: We disagree with the stock market and its working. Our advice is to terminate and come out of this as soon as possible. Whatever you can get for your share you may take it out and invest elsewhere. May Allah Ta`ala bless you with halaal wealth.
And Allah Ta’ala (الله تعالى) knows best.
Mufti Ebrahim Salejee (Isipingo Beach)