A Joint Statement from the Scholars Regarding Rulings on Stocks and Companies
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Question:
He says: Recently, there has been significant disagreement among some shaykhs and scholars regarding rulings on stocks and joint-stock companies, which has led to confusion among people in these matters. So, Honorable Shaykh, do you think it would be possible for a joint statement to be issued by the senior scholars concerning these companies after they have been studied?
Answer:
My brothers, these stocks and these companies do not settle into a fixed state until they are studied and a ruling is issued on them. Every hour, every day, and every moment brings changes and innovations, which indicates that they are racing to devise tricks to extract people's money. Yes. How can you issue a ruling on something that is constantly changing? It changes by the moment and by the minute; they want to lure people and extract their money. Until it becomes stable so that a ruling can be issued, that is why the scholars have not spoken on it. I mean the recognized scholars from whom fatwas are taken; they have not spoken on it because it has not stabilized. Every day, as you know, an advertisement appears, a company appears, an institution appears, and so on, with advertisements in the newspapers, all of it to extract people's money, as is not hidden from you. This means that every day you want the scholars to issue a fatwa, every day issuing a fatwa on what is new and what is happening in these things. This is not possible; this is not possible, and it does not lead to a conclusion. Yes.
The presenter:
May Allah reward you,
He says: Recently, there has been significant disagreement among some shaykhs and scholars regarding rulings on stocks and joint-stock companies, which has led to confusion among people in these matters. So, Honorable Shaykh, do you think it would be possible for a joint statement to be issued by the senior scholars concerning these companies after they have been studied?
Answer:
My brothers, these stocks and these companies do not settle into a fixed state until they are studied and a ruling is issued on them. Every hour, every day, and every moment brings changes and innovations, which indicates that they are racing to devise tricks to extract people's money. Yes. How can you issue a ruling on something that is constantly changing? It changes by the moment and by the minute; they want to lure people and extract their money. Until it becomes stable so that a ruling can be issued, that is why the scholars have not spoken on it. I mean the recognized scholars from whom fatwas are taken; they have not spoken on it because it has not stabilized. Every day, as you know, an advertisement appears, a company appears, an institution appears, and so on, with advertisements in the newspapers, all of it to extract people's money, as is not hidden from you. This means that every day you want the scholars to issue a fatwa, every day issuing a fatwa on what is new and what is happening in these things. This is not possible; this is not possible, and it does not lead to a conclusion. Yes.
The presenter:
May Allah reward you,
Source
قناة «العلامة الدكتور صالح الفوزان»، محاضرات في العقيدة والدعوة-19-العلماء ورثة الأنبياء|صالح الفوزان|العام|كبار العلماء — youtube.com (47:10)
The Arabic text is a machine transcription of the audio recording.