The Ruling on Buying Shares in Installments
Machine translationRead the Arabic original
Question:
What is the ruling on installment payments for stocks, where the company makes the payment and I pay in installments, considering that the sale of the stocks may take place in the same session as the purchase?
Answer:
Or regarding the issue of stocks, I am not comfortable with them; because stocks are unknown, they might be in dirhams, selling dirhams for dirhams. So I am not comfortable with dealing in stocks unless they are fixed stocks, fixed stocks in the assets of the electricity company, the transport company, the cement company, fixed factories, or you have stocks in land or a building, fixed assets from which you sell your share. This is permissible because it is known and fixed, and there is no riba (usury or interest) in it. As for circulating stocks, whether people trade them, I am not comfortable with that. Yes.
The presenter:
May Allah reward you
What is the ruling on installment payments for stocks, where the company makes the payment and I pay in installments, considering that the sale of the stocks may take place in the same session as the purchase?
Answer:
Or regarding the issue of stocks, I am not comfortable with them; because stocks are unknown, they might be in dirhams, selling dirhams for dirhams. So I am not comfortable with dealing in stocks unless they are fixed stocks, fixed stocks in the assets of the electricity company, the transport company, the cement company, fixed factories, or you have stocks in land or a building, fixed assets from which you sell your share. This is permissible because it is known and fixed, and there is no riba (usury or interest) in it. As for circulating stocks, whether people trade them, I am not comfortable with that. Yes.
The presenter:
May Allah reward you
Source
75-اللقاء الأسبوعي مع الشيخ صالح الفوزان - 31 — archive.org (58:38)
The Arabic text is a machine transcription of the audio recording.