['Aalim Network QR] Buying Stocks

[Mustafa Rawji <mrawji@sciborg.uwaterloo.ca>]

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|       In the Name of Allah, the Compassionate, the All-Merciful       |\
|  Greeting of Allah be upon Muhammad and the pure members of his House |\
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Salaamun alaykum,

	The reply to the following question was kindly provided by 
Moulana Rizvi (to which I have appended the Masail of Ayat. Seestani dealing 
with this subject).

Wasalaam,

Mustafa Rawji
Moderator, 'Aalim Network

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QUESTION:

	Is buying company stock Halal?  Is it dependant on the type of 
business that the company is engaged in.  Please reply according to Ayat. 
Seestani.


ANSWER:

	Buying company stock is halal in itself. However, secondary
reasons could make it haram: for example, if the company deals in
alcoholic drinks or gambling, then it will be haram because of the haram
commodity in which that company is involved. 

Sayyid M. Rizvi


[Moderator's Note - The masail of Ayat. Seestani on Buying and Selling 
Shares is reproduced below:
 
  Q:  What about buying and selling the shares of incorporated companies 
      or others?

  A:  It is permissible to buy and sell shares of any kind of corporation 
      on the condition that the transactions of this company do not engage
      in prohibited activities such as dealing in intoxicants or interest 
      (riba).

     (Ayat. Seestani, Al-Fatawa al-Muyassarah, p. 408, in Contemporary 
      Legal Rulings in Shi'i Law (p.28), tr. Hamid Mavani (1996))].