Message No : 8Sr.No : 293/725
Question By : Mohammad irfan

ASSALAMUALAIKUM WA RAHMATULLHI WABARAKATUHU,
Respected Scholars and Teachers,

Is (stock market)share broking permissable in Islam, there are different kind of companies that issue shares.we are not investing for ourself but for our client as he asks us to invest his money.

If we are working in a share broking company where we have to deal with all kinds of shares,mutual funds, derivatives,so what should we do?

irfan

 

Reply By : Mohd. Shihabuddin Qasmi
Designation : Mufti, ODI, MMERC, Mumbai 

(We apologize for any inconvenience caused by late replying to the question)

In the name of Allah, All Gracious, All Merciful
Wa Alaikumussalam
Dear Brother in Islam,
The answer to your question is as follows:

Share broking of the companies, which carry our lawful business, is permissible.

And Allah knows the best,

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