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The question

Is it permissible to deal with a brokerage company that allows a client to purchase shares at double their paid-up capital, on the condition that the company pays the remaining amount and collects it deferred with an increased brokerage commission (from 5 to 7 per thousand), and the shares are registered in the client’s name without a late penalty? And is this transaction considered usury (riba)?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

There is no objection to a person acting as an intermediary between a seller and a buyer on the stock exchange and taking a commission. There is also no objection to the intermediary paying the remaining amount of the share's value as a loan to the buyer. However, it is forbidden for the intermediary to take a commission on this loan, because it is usury (riba), which is prohibited. Every loan that draws a benefit is usury.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
57212
Imported
Translation status
Source text, unreviewed
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