Is investing in Apple company shares via a brokerage firm that follows a financial system – in which the company buys the shares, then invests the number of shares in daily speculative trading through automated buying and selling on the NASDAQ exchange, and provides a fixed daily profit ranging between 0.3 and 0.4% of the number of shares (fractions of a share), with the possibility for the investor to sell the profits whenever they wish for a 5% commission, and the contract duration is two years with the possibility of recovering the funds at the prevailing market price after the contract ends (with the possibility of the original amount increasing or decreasing), or terminating the contract after six months and recovering the funds after deducting all received profits – permissible or impermissible?
It is not permissible to invest in stocks unless they are pure. Stocks must belong to companies engaged in permissible activities, provided that these companies do not borrow or deposit funds with interest (riba). There is no harm in trading pure stocks through a broker who charges a known commission. However, it is impermissible for the broker to be given a fixed percentage of your shares, as is the condition of returning profits upon termination of the contract. This indicates that the broker is attempting to circumvent the prohibition of usury (riba), in addition to the fact that such brokerage involves the use of prohibited margin trading. The purity of Apple company shares must be verified by examining its financial statements.
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- 16868
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