Transactions & Dealings >> Shares & Investments
Question ID: 50320Country: India
Answer ID: 50320Posted on: Sep 1, 2020
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 213/200/L=03/1435) (1) The ruling regarding interest money is that it should be given to the poor and needy ones without the intention of reward. It is not lawful to spend interest money in personal use. لأن سبيل الكسب الخبيث التصدق إذا تعذر الرد على صاحبه (شامى: 9/553) (2) It is wajib on you to pay the zakah of this amount. However, you have option in paying whether to keep on paying each year or pay the zakah of all previous years in one time after you receive the money.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India
regarding share trading i learnt that trading shares of those companies which do not indulge in unlawful business like wine company etc is permissible. But even if we invest in companies which do not have these haram products or services, like real estate, IT, power companies, they are involved in interest based financing for their projects and ventures. Investing in them will mean partnership in a company that's financed by haram means. Please, guide whether such investments are halal.
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