SomaliNet Forums

My question is, is it Haram to invest money into companies, like buying stocks. Let me be more speceific so it will be easier to answer my question. I have already bought shares from publicly traded companies and I want to buy more from other companies. I’m more like short term investor and I try to buy my stocks from companies that do not produce pig products, cigarettes, alcohol, and any other thing that I think is against the “Common Good” such as companies that make weapons (guns, ammunitions and even knives).

I asked this question some Somali sheikhs who had zero understanding how the financial market works and they told me that it was absolutely haram.

Yes, it is Xaram airhead...

all i know is buying stocks is practiced in KSA and other muslim countries and i think its halal as long as the company is not involved producing any haram things
never hear Culuma saying its Haram..its widely practiced in muslim world

siren wrote:Yes, it is Xaram airhead...

How is it Haram? Please enlighten me.

Every stock market listed company has bomd loan or a debt security, whenever a company needs money they sell those loans, the buyer receives interest. Interest is Haram

S-D-M wrote:

siren wrote:Yes, it is Xaram airhead...

How is it Haram? Please enlighten me.

No..

siren wrote:Yes, it is Xaram airhead...

Stop making opinion about Islam. There is no funny about. Are u making fun Something has come from the 7 heaven. Are you making fun of Allah... Come on man. Do not respond with no evidence. Allah is serious about Islam and you should be too....

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To thread maker.. Ask the culumaa who have knowledge about Islamic business and what is Haram and what is Halal thanks.........

^ Put a lid on it nacasyahow confused ah....

Abdalla,

Not all companies have a loan. Some of this start up companies is bank rolled (or invested by venture capitalist who wants part/share of the company.

I do agree with you most do indeed have debt on their balance sheet, but not all.

Ruunti i dont know ask shiekh

this is not the right place to ask such important question. do not take seriously what any one on these forum has to say as none of us qualify to answer your question. only qualified Islamic jurist can answer your question.

almost all of Somali imams have limited knowledge about investment and how it works.

so please go and find an expert in your community.

and to my fellow forumers,

please don't try to answer complex religious questions.

remember, religion is not about opinion!

barakaboy10 wrote:this is not the right place to ask such important question. do not take seriously what any one on these forum has to say as none of us qualify to answer your question. only qualified Islamic jurist can answer your question.

almost all of Somali imams have limited knowledge about investment and how it works.

so please go and find an expert in your community.

and to my fellow forumers,

please don't try to answer complex religious questions.

remember, religion is not about opinion!

Don't bother asking a Somali Sheik. They'll tell you even sneezing is haram....