MTN Zakhele shares
Q: Some time back I purchased some mtn Zakhele shares. Are these shares halaal?
A: We are not fully acquainted with the workings of this company.
And Allah Ta’ala (الله تعالى) knows best.
Read these QA to learn more..
- I bought shares in a listed company over a period of 7 years. The shares were bought at various prices; some were at a higher price than the current share price, and some were bought at a lower price than the current share price. Some were bought with my own money, and some were bought with money borrowed on a 0% credit card. I recently discovered that the company is haram because it has no earnings, except from interest, and has large debt on which it pays interest. I understand that I must sell the shares, and any profit made has to be donated to charity. I need some advice on how to go about selling the shares, as the total value of my holding is less than what I paid/invested. Some shares are in profit, the majority are in a loss. There are a few options available: 1) Wait until the total value of the shares is equal to the money I invested, and sell. This means that some share will be in profit, and some will be at loss, but the profit cancels out the loss. 2) Sell shares as each lot/tranche of shares reaches the price that I paid for them. Donate any excess to charity. This means that it may take a long time to dispose of the shares, as the price will have to at least double. In fact, the price may never reach what I paid. Do I need to treat the shares purchased by borrowing money on credit card separately to the shares purchased using my own money. How should I deal with transaction costs? If it cost me £12 to buy 10 000 shares at 10p, and it costs me £12 to sell the shares, I have lost £24.
- My company have given me the options to buy 100 shares of the company at $50 each. (Stock options). These options are not transferable. Today The price of shares is $75 each. I have not yet exercised my right to buy @50. I have intentions to buy these shares @50 once the market price is $100. DO I have to pay zakat on this right to buy shares at this moment in time? This option will expire in the next 4 years (mening i have to excercise this right within next 4 years). W”salaam Muzammil
- I will now be receiving these Sun International shares as well. These shares have to be bought and sold through a stockbroker and I am in the process of selling these shares
- MTN Zakhele Shares are NOT Shariah Compliant
- Assalamalaykum. Can I resell shares purchased just minutes before,because–nowadays online trading facility of buying & selling shares is available, and on purchase our share demat account is immediately credited with the shares brought,although delivery( not physical takes place after 3 days).It is law of the indian governments that it takes 3 days.—-but on purchase of share we get Confirmation,on the spot, from broker(via,contract note) regarding our purchases,stating that you are holding the said shares. So my question is —can we sell shares,which are immediately recorded in our contract note when we buy them.?why we cant sell them even after a minute or so.It is faulty indian system of postponing the delivery,though every thing is recorded immediately—and we become owner of shares immediately.?They come in our possesion immediately.
- In intraday we purchase shares of a lawful company in morning wholy the shares risk is comes upon us the value of the shares increase or decrease we are responseble can we trade in intraday please reply.