What is the ruling on buying shares from a bank and then selling them on installment?
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Question:
What is the ruling on buying shares from a bank and then selling them on installment, meaning buying on installment?
Answer:
If the shares are riba-based, it is not permissible to buy them, as they deal in riba, so buying them is not permissible. If the shares are unknown, and you do not know or understand what they are, they are not to be bought, because it is a condition in a sale that the item sold be known, and these are unknown to the buyer. What are these shares? What is in them? What is the deal? Where are they? It is just talk, or just on the screen. This is unknown, and it is not permissible. Yes.
What is the ruling on buying shares from a bank and then selling them on installment, meaning buying on installment?
Answer:
If the shares are riba-based, it is not permissible to buy them, as they deal in riba, so buying them is not permissible. If the shares are unknown, and you do not know or understand what they are, they are not to be bought, because it is a condition in a sale that the item sold be known, and these are unknown to the buyer. What are these shares? What is in them? What is the deal? Where are they? It is just talk, or just on the screen. This is unknown, and it is not permissible. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم شراء أسهم من البنك ثم بيعها بالتقسيط؟ #فتاوى الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.