What is the ruling on dealing in stocks with companies?
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The questioner : What is the ruling on dealing in stocks in companies...
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 to participate in them for one who believes in Allah and the Last Day. There are many lawful means, so a 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; trading 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 in the space of a night and a day, the poor become rich and the rich become 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. As is well known among scholars, dire necessity permits what is prohibited, but this rule must be taken with its accompanying condition, which is the statement of the jurists: "Necessity is estimated according to its measure". Therefore, it is not permissible to deal with companies, nor is it permissible to deal in this paper currency. Yes, please go ahead.
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 to participate in them for one who believes in Allah and the Last Day. There are many lawful means, so a 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; trading 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 in the space of a night and a day, the poor become rich and the rich become 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. As is well known among scholars, dire necessity permits what is prohibited, but this rule must be taken with its accompanying condition, which is the statement of the jurists: "Necessity is estimated according to its measure". Therefore, it is not permissible to deal with companies, nor is it permissible to deal in this paper currency. Yes, please go ahead.