Shares Come in Three Kinds — Which One Is Yours?

Shaykh Bali has divided shares into three categories — purely haram, purely halal, and mixed. The confusion arises with the third.

How the Question Comes

Some say the stock market is simply gambling, entirely haram. Others say it is part of business, so it is halal.

Ordinary people stand in the middle — unable to work out where to keep their savings.

Many enter without understanding. The profit comes at the end of the year, but a nagging doubt remains in the heart — is this money halal?

Shaykh Bali's answer is not a blanket one — he has shown how to identify each kind separately.

The Shaykh's Answer

What the company deals in, and which bank its money is kept in — both must be checked.

Purely haram: shares of companies dealing in alcohol, smoking, music and dance, or of interest-based banks. Purely halal: the product is halal, and its transactions have no involvement with interest-based banks.

Mixed: the product is halal — for example a company dealing in iron, cement or food products — but it keeps its surplus money in an interest-based bank and takes interest, or carries out its buying and selling through an interest-based bank. This is where halal and haram get mixed together.

Evidence — Sustenance Bound Up with Taqwa

وَمَن يَتَّقِ ٱللَّهَ يَجْعَل لَّهُۥ مَخْرَجًۭا

And when they have [nearly] fulfilled their term, either retain them according to acceptable terms or part with them according to acceptable terms. And bring to witness two just men from among you and establish the testimony for [the acceptance of] Allāh. That is instructed to whoever should believe in Allāh and the Last Day. And whoever fears Allāh - He will make for him a way out (Surah At-Talaaq 65:2 — Saheeh International; meaning of the complete verse)Copy

The Shaykh reminds us of verse 2 of Surah Al-Ma'idah — cooperate in righteousness and taqwa, not in sin and transgression. Keeping money in an interest-based bank means helping them in their work.

What to Do

1. Before buying shares, look at what business the company is in.
2. Shares of alcohol, smoking, music, or interest-based banks — exclude them outright.
3. The Shaykh's advice to businessmen — open an account in an Islamic bank.
4. Do not tell anyone to send money to an interest-based bank — even deposits of a few days are used in their work.

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Source: Based on the talk of Shaykh Waheed Abdussalam Bali

Translation and compilation: Raqi Faisal Ahmed Sabit — Al Quran Ruqyah Healing Center