What is the ruling on purchasing shares in a telecommunications company (whose core business is permissible) that deposits its money in an interest-based bank or borrows from it, especially since the company encourages employees to buy shares by granting them the same amount they purchase (401k)?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is not permissible to buy shares in this company, even if its activity were permissible, because it exploits a portion of the share assets to obtain usurious interest.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/50432
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 50432
- 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