Is it permissible to participate in companies whose status is unknown?

Question:
May Allah reward you, Your Eminence, father. The questioner says: What is your view of the one who issues a fatwa permitting participation in the shares of new companies on the grounds that we do not know their status, and we do not forbid except what Allah has forbidden, or what we have no knowledge of, and then, if their matter becomes clear, we rule on it? Does what he claims have any basis in truth?

Answer:
This is deception. Their status is known. They have regulations. They are not permitted to open a company or granted a license until they submit their regulations. Their regulations are examined to determine whether it is a valid company or not. And their regulations alone are not sufficient, because they may write good and excellent regulations, but their dealings are also examined. Their dealings are examined. Two matters are examined: first, the regulations, and second, the dealings and implementation. So the one who says that the default in them is... what is it? It is not correct. It is not the default in them... Yes.