What is the ruling on dealing in stocks in companies and in currencies?
Machine translationRead the Arabic original
The questioner : What is the ruling on dealing in stocks in companies and in currencies?
The Shaykh : As is clear to everyone, companies deal with banks and engage in transactions involving riba (usury or interest); therefore, it is not permissible for one who believes in Allah and the Last Day to participate in them. There are many lawful means, so the Muslim should choose them and prefer them over other means.
As for dealing in these paper currencies, this is a calamity that has spread throughout the Islamic lands, and trade in them has become widespread. We do not see dealing in them as permissible except within the limits of dire necessity; because they have become like gambling, where one day a poor person becomes rich and a rich person becomes poor. Therefore, we do not see trading in these paper currencies as permissible except to the extent that a Muslim is compelled to do so in order to survive. And dire necessities, as is well known among scholars, permit what is prohibited, but this rule must be taken with its accompanying condition, which is the statement of the jurists: "Necessity is estimated by its amount." Therefore, it is not permissible to deal with companies, and it is not permissible to deal in this paper currency.
Yes.
Please proceed.
The Shaykh : As is clear to everyone, companies deal with banks and engage in transactions involving riba (usury or interest); therefore, it is not permissible for one who believes in Allah and the Last Day to participate in them. There are many lawful means, so the Muslim should choose them and prefer them over other means.
As for dealing in these paper currencies, this is a calamity that has spread throughout the Islamic lands, and trade in them has become widespread. We do not see dealing in them as permissible except within the limits of dire necessity; because they have become like gambling, where one day a poor person becomes rich and a rich person becomes poor. Therefore, we do not see trading in these paper currencies as permissible except to the extent that a Muslim is compelled to do so in order to survive. And dire necessities, as is well known among scholars, permit what is prohibited, but this rule must be taken with its accompanying condition, which is the statement of the jurists: "Necessity is estimated by its amount." Therefore, it is not permissible to deal with companies, and it is not permissible to deal in this paper currency.
Yes.
Please proceed.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.
