Fatwa #2236516 September 2012India
Question on Purchasing Shares
Question
Mufti sahib,
My company has provided free 10 shares to everyone living in India.
This share was for the locked period of 1 year (2011-2012).I don’t have any knowledge about the shares.
My friend applied to sell this share after the end of this locked period because after some days we cannot sell our shares. So, I got some amount from that in my salary. These shares were actually given instead of bonus for us by the company (that is what I heard by most of my colleagues).
I work in a multinational company where there is call centers, applications etc.But I work for non voice in the field of press and media.
I don’t know where the share money has gone for the use. Our companies (Only India) most of the profit is earned from Applications & technical supports. Technical support for banks computer. I want to know if I can utilize that shares money or not.
If not what can I do from that, any alternative way. Some said I can use and some said I cannot. Please help.
Note: I personally had not applied nor I wanted to because of haraam and halaal means. I got it free directly by the company instead of giving bonus to us.
For reference below is my company’s link
http://www.mphasis.com/about-us/
Please answer this as I have been trying for many months
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In view of the differences of opinions among the contemporary Ulama on the issue of shares, there is a leeway for you to accept the shares and it’s proceeds.
Checked and Approved by,
Mufti Ebrahim Desai.