Buying and selling bank shares is forbidden and constitutes riba
Machine translationRead the Arabic original
Question:
What is the ruling on buying bank shares and selling them after a period of time, such that one thousand becomes three thousand, for example? Is this considered riba?
Answer:
It is not permissible to sell bank shares, nor to buy them; because they are a sale of currency for currency without the condition of equality and immediate exchange; and because they are riba-based institutions with which it is not permissible to cooperate, whether by selling or buying; due to the saying of Allah the Exalted: [Al-Ma'idah: 2]. And because it is established from the Prophet (peace and blessings be upon him): Sahih Muslim 1598. It was narrated by Imam Muslim in his Sahih. And you have no right to anything but your principal capital.
And my advice to you and to other Muslims is: to be cautious of all riba-based transactions, to warn against them, and to repent to Allah the Exalted for what has passed of that; because riba-based transactions are a declaration of war against Allah the Exalted and His Messenger (peace and blessings be upon him), and are among the causes of Allah's anger and punishment, as Allah (Glorified and Exalted is He) said: :[Al-Baqarah 2:275] Allah destroys riba and increases alms, and Allah does not love every sinful disbeliever. [Al-Baqarah: 275-276].
And He (Glorified and Exalted is He) said: :[Al-Baqarah 2:278] So if you do not, then announce war from Allah and His Messenger. And if you repent, then yours is your principal capital; you will not wrong, nor be wronged. [Al-Baqarah: 278-279]. And due to the aforementioned noble hadith.
What is the ruling on buying bank shares and selling them after a period of time, such that one thousand becomes three thousand, for example? Is this considered riba?
Answer:
It is not permissible to sell bank shares, nor to buy them; because they are a sale of currency for currency without the condition of equality and immediate exchange; and because they are riba-based institutions with which it is not permissible to cooperate, whether by selling or buying; due to the saying of Allah the Exalted:
And cooperate in righteousness and piety, but do not cooperate in sin and aggression.
وَتَعَاوَنُواْ عَلَى الْبرِّ وَالتَّقْوَى وَلاَ تَعَاوَنُواْ عَلَى الإِثْمِ وَالْعُدْوَانِthat Allah's Messenger (ﷺ) cursed the accepter of interest and its payer, and one who records it, and the two witnesses, and he said: They are all equal.
أنه لعن آكل الربا، وموكله، وكاتبه، وشاهديه، وقال: هم سواءAnd my advice to you and to other Muslims is: to be cautious of all riba-based transactions, to warn against them, and to repent to Allah the Exalted for what has passed of that; because riba-based transactions are a declaration of war against Allah the Exalted and His Messenger (peace and blessings be upon him), and are among the causes of Allah's anger and punishment, as Allah (Glorified and Exalted is He) said: :
Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah. But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein.
الَّذِينَ يَأْكُلُونَ الرِّبَا لاَ يَقُومُونَ إِلاَّ كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَلِكَ بِأَنَّهُمْ قَالُواْ إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا فَمَن جَاءهُ مَوْعِظَةٌ مِّن رَّبِّهِ فَانتَهَىَ فَلَهُ مَا سَلَفَ وَأَمْرُهُ إِلَى اللّهِ وَمَنْ عَادَ فَأُوْلَئِكَ أَصْحَابُ النَّارِ هُمْ فِيهَا خَالِدُونَ And He (Glorified and Exalted is He) said: :
O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers.
يَا أَيُّهَا الَّذِينَ آمَنُواْ اتَّقُواْ اللّهَ وَذَرُواْ مَا بَقِيَ مِنَ الرِّبَا إِن كُنتُم مُّؤْمِنِينَ
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.