Fatwa #131583 July 2005Oman
Company offered shares
Question
I work in a company which deals in telecommunication,recently company has offered a stock purchase plan to all its employees,as per offer company would deduct 7.5 % of the basic salary each month and after maturity of policy which is 3 years company would give 1 1 shares to the employee i.e. if employee has paid for 100 shares then company will give him 200 shares.
Please tell me is this deal allowed in the light of Quran and Sunnah ?
Answer
According to the Shari’ah, it is permissible for you to subscribe to this purchase plan. The extra 100 shares given to you after maturity is considered as a gift to you from the company. This is not interest, hence, permissible.
and Allah Ta'ala Knows Best
<b>Mufti Ebrahim Desai</b>