Is it permissible to buy shares in a telecommunications company?
Machine translationRead the Arabic original
Question:
He says: There is an offer from the telecommunications company for one year. The subscriber pays eight thousand riyals and receives one thousand five hundred riyals weekly, which they call buying shares. And if I want my money, I can take it whenever I want. Is that permissible?
Answer:
This is an invalid transaction, and it is consuming people's money through falsehood. It is a fraudulent scheme; they set traps for people and deceive them. This is an invalid transaction and a corrupt earning, and it is not permissible to deal in such a transaction.
He says: There is an offer from the telecommunications company for one year. The subscriber pays eight thousand riyals and receives one thousand five hundred riyals weekly, which they call buying shares. And if I want my money, I can take it whenever I want. Is that permissible?
Answer:
This is an invalid transaction, and it is consuming people's money through falsehood. It is a fraudulent scheme; they set traps for people and deceive them. This is an invalid transaction and a corrupt earning, and it is not permissible to deal in such a transaction.
Source
قناة «العلامة الدكتور صالح الفوزان»، هل يجوز شراء أسهم في شركة اتصالات؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.