The ruling on buying shares from a bank and then selling them
Machine translationRead the Arabic original
Question:
This questioner asks: A man is short a sum of money and wants to buy shares from a bank and then sell them afterward to take the price. He is charged an amount in excess of the amount he took. Is there anything wrong with this? I think Your Eminence the Shaykh has answered this question, but that does not prevent further clarification.
Answer:
We say that the stocks are unknown, my brother; you do not know what they are. As long as they are unknown, it is not permissible to buy them. If you want to buy something, buy something that exists, something you can see and take possession of, such as a car, cloth, or food. You take possession of it, move it from one place to another, and sell it. Yes.
This questioner asks: A man is short a sum of money and wants to buy shares from a bank and then sell them afterward to take the price. He is charged an amount in excess of the amount he took. Is there anything wrong with this? I think Your Eminence the Shaykh has answered this question, but that does not prevent further clarification.
Answer:
We say that the stocks are unknown, my brother; you do not know what they are. As long as they are unknown, it is not permissible to buy them. If you want to buy something, buy something that exists, something you can see and take possession of, such as a car, cloth, or food. You take possession of it, move it from one place to another, and sell it. Yes.
Source
لقاء مفتوح في الحرس الوطني — alfawzan.live (40:57)
The Arabic text is a machine transcription of the audio recording.