×
العربية english francais русский Deutsch فارسى اندونيسي اردو
Peace, mercy and blessings of God.

Dear Members! Today the quorum of receiving fatwas is completed.

Tomorrow, God willing, at 6 am, new fatwas will be received.

You can search the Fatwa section for what you want to answer or direct contact

On the Sheikh Dr. Khaled Al-Muslah on this number 00966505147004

From 10 am to 1 pm

God bless you


 

Fatwas / Sales Fatawa / Tawarruq in shares

Views:1941

Question

Respected Shaykh, Assalamu Alaykum wa rahmatullahi wa barakatuhu. What is your opinion concerning the issue of tawarruq in shares?

التورق في الأسهم

Answer

All praise is due to Allah. May Allah's peace and blessings be upon our prophet Muhammad, his family, and all his companions.
To proceed:
People ask a lot about tawarruq, whereby a person goes to a bank to buy shares for sale in the market, and he gains from the money obtained in the sale. This is permissible provided that three conditions are fulfilled:
The first condition: The bank should own the shares. If it does not own the shares at the time that the sale is concluded, then it would have sold what it does not own, and this is impermissible.
The second condition: These shares should be permissible like shares in services companies and so on.
The third condition: The buyer should not buy the shares on behalf of the bank, nor should he delegate the bank in selling the shares for him because if he does that, this would be considered to be a stratagem to go around the issue of interest.
When these three conditions are fulfilled, tawarruq will be permissible. And Allah knows best.

Shaykh Khalid al-Mosleh


Viewed Topics

1.

Comments

×

Do you really want to delete the items you've visited?

Yes, Delete