Can I invest in stocks?
Question
Can I invest in stocks? I know there are four conditions mentioned by Mufti Taqi. However, I need to know is it ideal to invest or taqwa demands to refrain? Alhumdulillah I am financially stable. Just have surplus funds to invest. Can mufti sb advise if there are any investments approved by Mufti Sb. Hope you answer my question.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
It is permissible to invest in stocks with the four conditions stated by Mufti Taqi Uthmani Saheb.[i] If you chose not to invest due to the difference of opinion among the Muftis on the concept of shares in a company and limited liability, then that will be your level of taqwā.
The Darul Iftaa has approved of Al-Mabroor investment schemes. You may refer to the Al-Mabroor website for their details. The Darul Iftaa does not take part in the business of Al-Mabroor investments.
And Allah Ta’āla Knows Best
Abrar Habib
Student - Darul Iftaa
New York City, New York, USA
Checked and Approved by,
Mufti Ebrahim Desai.
10-02-1441|09-10-2019
References (Arabic / Urdu sources)
[i] An Introduction to Islaamic finance” by Mufti Taqi/ pg.207-208
اسلام اور جديد معيشته وتجارت ص١٠٤ – مكتبة معارف القران (شیرز کی بیع وشراء کی شرائط)
فتاوى دار العلوم زكريا، ج-٥، ص-٧٥٥
- Answered by
- Abrar Habib
- Checked & approved by
- Mufti Ebrahim Desai
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