Is trading in Saudi shares permissible ((excluding banks))?
A Muslim must work and earn a lawful livelihood. The Prophet, peace and blessings be upon him, was asked about the best earning, and he said: "A man's work with his own hands, and every righteous transaction."
Trading in shares of companies and banks depends on their activities. It is permissible to trade in shares of companies that engage in lawful activities such as industry, agriculture, and trade in permissible goods.
It is stipulated that these institutions should not deposit their money or invest it in usurious banks. If they deal with them, then it is not permissible to trade in their shares, because that would be assisting in sin.
The criterion is the permissibility or prohibition of the activity, regardless of whether the country is Muslim or non-Muslim.
Two conditions are required for trading in shares: 1. The institution's activity must be permissible. 2. The institution must not deal with usurious banks.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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Where this answer came from
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- Ftawy
- Original fatwa ID
- 39399
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy