The Ruling on Participating in a Riba-Based Company
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I have come from Madinah to pay my respects to your eminence. I have a question for myself and two questions I have been asked to ask, which I will defer for now.As for my question, I will raise it: I have become entangled in a joint-stock company. I invested in it without knowing about its riba, or that it would engage in riba. Later, it became clear to me that it does engage in riba; they stated this explicitly and announced the bank interest rates. I then wanted to extricate myself from this situation, so I went to them.And I said to them: They said, "We will give you what you gave us, and you take what you have gained." They refused [to accept my offer].And they said: You have no choice but to sell these shares and take your capital. As for the rest, you are free to do with it as you wish, whether you consume it or leave it. However, I have a doubt that has occurred to me: I know that I will be getting rid of these shares by selling them after taking the interest, because they do not allow [the sale] until you have taken the interest. I know that I will be exiting these shares and entangling another brother of mine in Allah in them, because he will buy them afterwards. These shares cannot be returned to the company, as its capital is one million shares, and I have three hundred shares. These shares will not decrease, as the shares are fixed, unless another person takes my place.So the Prophet (peace and blessings be upon him) said: (None of you truly believes until he loves for his brother what he loves for himself). So, by Allah, I do not want to get out of the Fire and throw another brother of mine into it. This doubt has troubled me and caused me to doubt that selling is a way out. So I resolved to leave this money and exit, but they said: "This will remain, and even if you die, it will be for your heirs after you with interest." I want to be rid of this doubt that has troubled me. Please advise us, may Allah reward you with good?
I hope that your extrication for the sake of Allah, Mighty and Majestic, is better for you than the world and what is in it. As for the one who comes after you and takes it, the sin is upon him.You have purified yourself by saying to the company: Either you, the founders, buy them! The questioner: Does the company buy them in its name, or an individual from the company?The Shaykh: In its name or an individual from it, but there is something in the soul about the individual;Because selling to an individual means: Cooperation in sin.
The questioner: I have no willingness to sell to the company itself?The Shaykh: If you have no willingness, leave it for Allah, and Allah will replace it for you.
The questioner: I will willingly leave this, but I will know that it is preserved for my children after me?The Shaykh: That is not your concern. When the heirs come after you, they are the ones responsible.Write advice for those who come after you: I advise you not to approach this company. The problem with this company is not just the issue of riba. The problem is that we have heard that it usurps people's money and does not allow them to return to their money, as we have heard. We have heard that there are people who went mad, and some of them died, when they were prevented from their property.
Allah knows best, but in any case, leaving it is better.
The questioner: I leave my money, even if it is thousands?The Shaykh: You said: three hundred shares.
The questioner: Worth about ten thousand riyals?The Shaykh: If that is the case, your matter is easy.
The questioner: I am not harmed by leaving it.
The Shaykh: If it does not harm you, leave it, and Allah will replace it for you.
I hope that your extrication for the sake of Allah, Mighty and Majestic, is better for you than the world and what is in it. As for the one who comes after you and takes it, the sin is upon him.You have purified yourself by saying to the company: Either you, the founders, buy them! The questioner: Does the company buy them in its name, or an individual from the company?The Shaykh: In its name or an individual from it, but there is something in the soul about the individual;Because selling to an individual means: Cooperation in sin.
The questioner: I have no willingness to sell to the company itself?The Shaykh: If you have no willingness, leave it for Allah, and Allah will replace it for you.
The questioner: I will willingly leave this, but I will know that it is preserved for my children after me?The Shaykh: That is not your concern. When the heirs come after you, they are the ones responsible.Write advice for those who come after you: I advise you not to approach this company. The problem with this company is not just the issue of riba. The problem is that we have heard that it usurps people's money and does not allow them to return to their money, as we have heard. We have heard that there are people who went mad, and some of them died, when they were prevented from their property.
Allah knows best, but in any case, leaving it is better.
The questioner: I leave my money, even if it is thousands?The Shaykh: You said: three hundred shares.
The questioner: Worth about ten thousand riyals?The Shaykh: If that is the case, your matter is easy.
The questioner: I am not harmed by leaving it.
The Shaykh: If it does not harm you, leave it, and Allah will replace it for you.