Q: Is it haraam to buy and sell shares in the stock market?
A: The shar’i ruling with regards to shares is that investing (buying) in a company which deals in halaal is permissible. If there is any element of haraam involved directly or indirectly, (e.g. The assets / merchandise of the company being of an impermissible nature or the running of the company being in contradiction to the shari’ee principles of commerce or the company’s reinvesting in anything non shariah compliant etc.) it will be impermissible for one to invest in such a company.
And Allah Ta’ala (الله تعالى) knows best.
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)