What is the ruling on investing in online stocks that pay a daily or monthly percentage on the invested money in Islamic Sharia?
It is permissible to invest in permissible stocks, whether through the stock exchange or the internet. Stock companies are divided into three types: companies whose work is permissible and are called "pure" – it is permissible to invest in them; companies whose work is forbidden – it is not permissible to invest in them; and companies whose original work is permissible but engage in forbidden transactions – these are called "mixed," and the preponderant opinion is that it is forbidden to invest in them. There is no objection to distributing profits monthly or daily. The details of the investment should be presented to scholars before participating.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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- Read the full answer on Ftawy