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Rufai Oladimeji
Lagos State University
English
100Level, Nigeria.
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Question

Is it allowed to trade in shares of companies
whose main business is Halaal (like
computers) but deal with banks by taking
interest and loans from time to time? Is it
allowed to trade in the shares of such
companies if I do not intend to take any
profit from the dividends? I will only take
trading profit (profit from buying and selling
the shares at a higher price). As you know,
there are no shares of companies that do not
deal in interest, to the best of my knowledge.
Thank you and may Allah bless you.

Fatwa:
All perfect praise be to Allah, The Lord of the
Worlds. I testify that there is none worthy of
worship except Allah, and that Muhammad
is His slave and Messenger.

Shares from the Islamic point of view are of
three kinds:
1 – Shares of companies whose dealings are
all Halaal, such as Islamic banks etc. Trading
in these shares is absolutely Halaal.
2 – Shares of the companies whose dealings
are all Haraam. Trading in these shares is
absolutely Haraam, such as usury taking
banks.
3 – Shares of companies whose dealings are
Halaal, but they deal with usury-taking
banks. Contemporary scholars hold two
different opinions on this issue:
A- Trading in these shares is also Haraam,
because usury is involved in the shares of
the company.
B- Trading in these shares is lawful, but the
percentage of usury should be little. And the
participant should put off the percentage of
this usury from his profit.
However, the Islamic Fiqh Council in Jeddah
prohibited this type of shares. Although the
research is continuous on this issue,
probably this opinion is correct because the
jurists forbid the partnership of a usurer.

Allah knows best.

www.islamweb.net/en/article/154739/investing-in-companies-which-occasionally-deal-with-banks

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