Transactions & Dealings >> Shares & Investments

Question ID: 6678Country: India

Title: I want to know that share market & inssurance are legal or ilrgal but why.give me complete answer.thanking you.

Question: Assla Alaikum. I want to know that share market & inssurance are legal or ilrgal but why.give me complete answer.thanking you. allah hafiz

Answer ID: 6678Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 669/669=M/1429)

It is a business to invest money in share market which is lawful with some conditions, while insurance is an interest based transaction, therefore unlawful. A business is lawful and interest is unlawful, as the Holy Quran said: أحل الله البيع وحرم الربوا (Allah has permitted sale, and prohibited riba/usury).

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: I want to know that share market & inssurance are legal or ilrgal but why.give me complete answer.thanking you.

Question: Assla Alaikum. I want to know that share market & inssurance are legal or ilrgal but why.give me complete answer.thanking you. allah hafiz

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