Is it permissible for a resident to purchase shares designated only for citizens using his own money?
For trading in shares to be permissible, the company's work must be permissible. Therefore, it is not permissible to invest in companies that deal in unlawful activities or deposit their money in interest-bearing banks. If the company is free from these prohibitions, then there is no harm in buying its shares. If the shares are designated for citizens only, it is not permissible to buy them for someone else and register them in your name, due to the falsehood involved and the potential for dispute, unless you buy them for yourself and then sell them to him and document that. In that case, it does not harm if the shares remain registered in your name, although it is better to avoid that.
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- Source platform
- Ftawy
- Original fatwa ID
- 48224
- Imported
- Translation status
- Source text, unreviewed
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