Can I invest in a company which runs on interest?
Question
Can i invest in company which runs on sood.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In principle interest is completely prohibited is Islam, whether one gives it, receives it, or benefit from it in any manner. Allah Ta’ala says:
And Allah has permitted trade and forbidden interest. (Al-Baqarah verse275)
Oh you who believe! Fear Allah and give up (write off) whatsoever interest is left if you are believers. If you do not, then be warned of war from Allah and His Messenger. (Al-Baqarah verse 277- 278)
Regarding your query, we need you to elaborate further in order for us to respond appropriately.
What is the name of the company?
What activities and investments take place in the company?
What are the details of the sood and percentage etc of the sood?
Jazaakallah
.
And Allah Ta’āla Knows Best
Saeed Ncane
Student Darul Iftaa
South Africa
Checked and Approved by,
Mufti Ebrahim Desai.
References (Arabic / Urdu sources)
وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا
يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِنْ كُنْتُمْ مُؤْمِنِينَ (278) فَإِنْ لَمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِنَ اللَّهِ وَرَسُولِهِ
- Answered by
- Saeed Ncane
- Checked & approved by
- Mufti Ebrahim Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.