Is it permissible for my friend to purchase non-riba-based shares for me worth 100,0 Saudi Riyals, then sell them to me on credit for 116,0 Saudi Riyals over 24 months, with the shares remaining in his name due to the inability to transfer ownership in the Saudi market, while I manage their sale?

The regulations governing the permissibility of trading in shares have been previously explained. Selling shares is permissible if the conditions are met, while emphasizing the impermissibility of deferred payment sales if the shares represent gold, silver, or paper currencies. The contract concluded between the questioner and his friend is called Murabaha for the one who orders the purchase, and it is permissible under certain conditions. As for the inability to transfer the shares to the questioner's name, the ruling on subscribing in someone else's name and the conditions for its permissibility have been previously clarified. If these conditions are met, there is no objection to the shares remaining in the friend's name. It is advised to write down the contract for documentation and to safeguard rights.