Fatwa #1620410 February 2008United States of America
Mufti Saheb as a muslim are we allowed to invest in shares because I read an article of the Majlis Ulema of South Africa wherein they have mention it is not permissible to invest in shares I hope you must have read that article Pls clarify .
Question
Mufti Saheb as a muslim are we allowed to invest in shares because I read an article of the Majlis Ulema of South Africa wherein they have mention it is not permissible to invest in shares I hope you must have read that article Pls clarify .
Answer
In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatoh
It is our view that it is not permissible to invest in shares. Hereunder is our research on shares.
And Allah knows best
Wassalam
Mufti Ebrahim Desai