Resolution No.(68): “Ruling on Investing and trading in Stocks of Public Shareholding Companies“
Date: 5/8/1424 AH corresponding to 1/10/2003 AD.
The Board received the following question:
What is the Ruling of Islamic Sharia on investing and trading in stocks of public shareholding companies?
Answer: All success is due to Allah.
After careful study and deliberation, the Board believes that investing and trading in stocks of public shareholding companies, which deal in illegal business such as trading in wine or producing it, is forbidden, and the same ruling applies to similar companies.
As regards companies that deal in lawful business, which was slightly mixed with that which is unlawful such as dealing in usury, investing in them is permissible, provided that the investors remove the usurious amounts from their profits and give them to the poor and needy Muslims. And Allah Knows Best.
Iftaa` Board
Chairman of the Iftaa` Board, Chief Justice, Izz Al-Deen Al-Tamimi
Dr. Mohammad Abu Yahia
Dr. Ahmad Hilayil
Sheikh Mahmoud Shwayyaat
Dr. Yousef Gheezaan
Dr. Wasif Al-Bakhri
Sheikh Saeid Hijjawi
Sheikh Na`eim Mujahid
