Fasting and Curbing of ... Date Added: 20-12-2022

Mourning the Death of ... Date Added: 18-12-2022

How to Protect our Children ... Date Added: 15-12-2022

Islamic Rulings for Newborn ... Date Added: 12-12-2022

In order not to Regret the ... Date Added: 09-01-2023

First Master`s Dissertation ... Date Added: 02-01-2023

Generalizing Judgments is ... Date Added: 27-12-2022

Mourning Homeland Martyrs Date Added: 21-12-2022

Fatawaa


Subject : Ruling on Subscribing in Some Companies

Fatwa Number : 705

Date : 10-05-2010

Classified : Partnership in Business

Fatwa Type : Search Fatawaa


Question :

What is the ruling on holding shares and subscribing in estates and communications companies and others, such as Royal Jordanian (RJ) where some companies borrow from banks or deposit assets there?



The Answer :

All perfect praise be to Allah, The Lord of The Worlds, and may His peace and blessings be upon our Prophet Muhammad and upon all of his family and companions.

In general, companies aren't the same; some adhere to the rulings of Sharia while others don't. Therefore, judging that a company complies with Sharia can`t be affirmed save after revising its articles of association.

An ordinary person may check a company's articles of association and if he finds out that they involve usurious transactions or they deal with conventional banks, then he should stop subscribing or could consult any jurist to set the records straight in line with Sharia.

In conclusion, as for stocks, their ruling depends on that of the company that sells them. And Allah The Almighty Knows Best.






Comments

 

Name *

E. mail Address *

Country

Comment Title *

Comment *

Captcha
 
 

Warning: this window is not dedicated to receive religious questions, but to comment on topics published for the benefit of the site administrators—and not for publication. We are pleased to receive religious questions in the section "Send Your Question". So we apologize to readers for not answering any questions through this window of "Comments" for the sake of work organization. Thank you.