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The question

Is it permissible to subscribe to bank shares solely for profit, in the absence of a pressing need or necessity?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

If the intention is to purchase shares through a Tawarruq transaction with the bank, then the answer is twofold:

Firstly: Tawarruq is permissible, provided that the bank owns the commodity before selling it to the client.

Secondly: For dealing in shares to be permissible, it is stipulated that the company's activity must be lawful, and that it does not place a portion of the shareholders' money in usurious banks to earn interest.

If both conditions are met, then purchasing shares is permissible, and there is no objection to intending to profit from this transaction.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
168393
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.
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Read the full answer on Ftawy