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Fatwas / Sales Fatawa / Are companies dealing with interest today?

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الافتراضي (نقش) Amiri Messeri Kufi
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Question

Is it true that companies are now dealing with interest and that speculating with company shares even the ones said to be clean is a way of selling money for money? If the issue is not like this (i.e, selling money for money) then what is the ruling on speculating with company shares issued by some students of knowledge such Shaykh Shibeeli (may Allah protect him) and Shaykh al-‘Aseemi that these are clean companies, but after the second or third quarter, these companies are removed from the register of clean companies because of either interest based depositing or borrowing. The issue is I have invested in these companies and I have shares in them. Selling these share after the removal of the companies from the clean companies register will result in losing my money that I used to buy these shares when the companies were still clean. May you please advise me and may Allah reward you?

هل الشركات التي على الساحة الآن تتعامل بالربا

Answer

Praise be to Allah, and may Allah’s peace and blessings be upon the Messenger of Allah, his family and his companions.

To proceed:

In response to your question, we say, and with Allah Almighty lies all success:
To say there is no clean company will not be true. What is apparent is that it is very rare to find a company that is free from unlawful dealings such as interest or other than that. However, it is not correct to say shares are similar to selling money for money. In my opinion, the criteria used to classify companies is not precise. The standard used for a clean company is not engaging in interest based borrowing for a specific period of time. They forgot other reasons of impermissibility; hence this classification includes injustice in reality. 


Praise be to Allah, and may Allah’s peace and blessings be upon the Messenger of Allah, his family and his companions.

To proceed:

In response to your question, we say, and with Allah Almighty lies all success:
To say there is no clean company will not be true. What is apparent is that it is very rare to find a company that is free from unlawful dealings such as interest or other than that. However, it is not correct to say shares are similar to selling money for money. In my opinion, the criteria used to classify companies is not precise. The standard used for a clean company is not engaging in interest based borrowing for a specific period of time. They forgot other reasons of impermissibility; hence this classification includes injustice in reality. 

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