Is the "Zahrat Al-Waha" stock in the Saudi market pure or mixed?
The ruling on subscribing to companies varies depending on their activity. If the core business is unlawful, such as usurious banks, then purchasing their shares is unanimously prohibited. If it is lawful and does not involve violations, such as placing part of its money in usurious banks, then investing in it is permissible. As for companies whose core business is permissible, but they place part of their money in usurious banks for interest, the preponderant opinion is that it is not permissible to subscribe to them. Accordingly, if the company's activity is permissible, and it does not place a portion of shareholders' money in usurious banks to earn interest, or borrow with usury, then there is no harm in purchasing and trading its shares. It is preferable to consult scholars specialized in your country.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Ftawy
- Original fatwa ID
- 168256
- 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