The question
What is the fatwa on dealing with shares of Global Investment House company-“Global” listed in The Financial Market of Dubai?
The Reply
Praise be to Allah, and peace and blessings be upon the Seal of Prophets, then:
It is known that Global investment house company-“Global”- listed in The Financial Market of Dubai is from the companies deals somewhat with usury.
According to this, it is not permissible to buy its shares as the share holder in this case will be partner in the company. The evidences for this prohibition are derived mostly from the Qur’an and Sunnah, which prohibit usury. Therefore, buying shares of the companies who deals with usury, with the knowledge of the buyer, means the participation of the buyer himself in dealing with usury, because the share represents a contribution in the net components of company.
It is prohibited deed that any money/ securities that the company takes as a loan or gives as a loan with interest, then the shareholder has a portion in it, and the members of board of directors give loans and apply for loans in the behalf of contributors , or any kind of power of attorney for an illegal deed, this is decreed by that The Fiqh Academy affiliated to The Muslim World League and The Islamic Fiqh Academy stemming from The Organization of Islamic conference, also According to the opinions of our Skeikh Ibn baz and the other last two opinions of Sheikh Ibn `Uthaimin (May Allah have great mercy upon him)
What is the fatwa on dealing with shares of Global Investment House company-“Global” listed in The Financial Market of Dubai?
The Reply
Praise be to Allah, and peace and blessings be upon the Seal of Prophets, then:
It is known that Global investment house company-“Global”- listed in The Financial Market of Dubai is from the companies deals somewhat with usury.
According to this, it is not permissible to buy its shares as the share holder in this case will be partner in the company. The evidences for this prohibition are derived mostly from the Qur’an and Sunnah, which prohibit usury. Therefore, buying shares of the companies who deals with usury, with the knowledge of the buyer, means the participation of the buyer himself in dealing with usury, because the share represents a contribution in the net components of company.
It is prohibited deed that any money/ securities that the company takes as a loan or gives as a loan with interest, then the shareholder has a portion in it, and the members of board of directors give loans and apply for loans in the behalf of contributors , or any kind of power of attorney for an illegal deed, this is decreed by that The Fiqh Academy affiliated to The Muslim World League and The Islamic Fiqh Academy stemming from The Organization of Islamic conference, also According to the opinions of our Skeikh Ibn baz and the other last two opinions of Sheikh Ibn `Uthaimin (May Allah have great mercy upon him)
Hijri Date Correction:
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