What is the ruling on participating in American companies through stocks, by appointing a person residing in America, knowing that he takes a percentage?
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The questioner : May Allah reward you, O Shaykh. What is the ruling on participating in American industrial companies through stocks, via an agent appointed by a person in this country, who informs him of his account number and the amount he invested, based on an agreement for a percentage for the agent in America?
The Shaykh : But what do the companies do?
The questioner : Industrial.
The Shaykh : Do they not have riba (usury or interest) or anything else?
The questioner : No, he says they do not have riba (usury or interest). They are industrial and commercial.
The Shaykh : Well, there is nothing wrong with it if, for example, there is no riba (usury or interest) or gharar (excessive uncertainty in a contract); the important thing is that if their buying and selling is valid, then there is no harm.
The questioner : It is just that there is a problem in the contract between this person and the agent in America.
The Shaykh : There is no problem, there is no issue.
The questioner : There is no issue.
The Shaykh : As long as it is with his consent.
The questioner : Yes
The Shaykh : There is nothing wrong with it.
The questioner : May Allah reward you with good.
The Shaykh : Yes, the left side.
The Shaykh : But what do the companies do?
The questioner : Industrial.
The Shaykh : Do they not have riba (usury or interest) or anything else?
The questioner : No, he says they do not have riba (usury or interest). They are industrial and commercial.
The Shaykh : Well, there is nothing wrong with it if, for example, there is no riba (usury or interest) or gharar (excessive uncertainty in a contract); the important thing is that if their buying and selling is valid, then there is no harm.
The questioner : It is just that there is a problem in the contract between this person and the agent in America.
The Shaykh : There is no problem, there is no issue.
The questioner : There is no issue.
The Shaykh : As long as it is with his consent.
The questioner : Yes
The Shaykh : There is nothing wrong with it.
The questioner : May Allah reward you with good.
The Shaykh : Yes, the left side.