Text copied Link copied

Al-Fatawa – home

﴿ فَاسْأَلُوا أَهْلَ الذِّكْرِ إِن كُنتُمْ لَا تَعْلَمُونَ ﴾

Scholar
Search mode

The ruling on selling shares of Bank al-Bilad after privatization

Machine translationRead the Arabic original
Question:
Your Eminence the Shaykh, may Allah grant you success! More than one question has come in regarding whether it is permissible to sell after the privatization of Bank al-Bilad shares? He says: Know that these shares have not yet been offered for trading.

Answer:
I say: Do not enter into a shareholding, neither in Bank al-Bilad nor any other, until you know the validity of the dealings of this institution or this bank, and that there is no gharar (excessive uncertainty in a contract) in it, and that there is no ignorance in it, and that it deals with good transactions. If you do not know, or if you know that it deals with forbidden transactions, do not enter into it. Consequently, it is not permissible for you to sell the shares you hold in it, because you are selling something you do not know; you are selling something unknown that contains gharar and ignorance. Yes. And if you are uncomfortable with keeping these shares in your possession, why do you sell them to others and transfer them to others, take their price, and involve others in what you have freed yourself from?
O brothers, seeking a livelihood: Allah has made it easy for us to seek a livelihood and shown us how to seek it. So why do we not return to the Book of our Lord and the Sunnah of our Prophet, and walk in accordance with what Allah has made lawful for us and leave what Allah has forbidden for us or what is doubtful to us? Why do we take risks? Why do we gamble? Why do we be bold in these matters? Yes.
Source حكم بيع أسهم بنك البلاد بعد التخصيص وقبل طرحها للتداول ؟ — alfawzan.live

The Arabic text is a machine transcription of the audio recording.

Flag this fatwa