What is the ruling on subscribing to shares in the Chemical Basic Industries Company?
The company "Basic Chemical Industries" is mixed with usury due to the presence of loans, financing expenses, undisclosed other revenues, and marketing agreements subject to man-made laws. Therefore, it is not permissible to subscribe to it. Whoever subscribed to it, believing it to be permissible, will have the full value of their shares upon sale, and purification is not required of them. As for whoever subscribed to it after knowing its impermissibility, they must sell it, take only their capital, and donate the excess with the intention of disposing of the unlawful gain. Companies must transition to -compliant transactions, as alternatives are available, and they must seek what is lawful and avoid warring against Allah and His Messenger.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Ftawy
- Original fatwa ID
- 17834
- 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