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Subject: Stock Market

Author:
Shaheed

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Date Posted: 17:10:35 10/04/02 Fri
Author Host/IP: ip104.50-187-208.eli-du.nwlink.com/208.187.50.104

I would like to inquire about making money investments in the stock market. It is a proccess where you put your money into a company, buy some of their stock, and depending on how well that company does, your money can either decrease or increase. Is this Haram(forbidden) in Islam? Is it considered a form of gambling? As salaamu alaikum, Jazakallah Khair.

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[> Subject: Re: Stock Market

Author:
Moustafa Morsy
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Date Posted: 21:06:01 10/04/02 Fri
Author Host/IP: mt.24.171.69.29.charter-stl.com/24.171.69.29

Alikom Assalaam.
There is nothing wrong with selling or buying shares if they are shares in permissible companies.

Excluded from this are companies which deal in haraam things, such as selling alcohol, tobacco and music tapes. It is not permitted to have shares in these companies, or to buy these shares. If the company openly deals in ribaa (usury, interest), then it is not permissible to deal with it. but if a manufacturing, agricultural or business company is compelled to deposit its money with the bank in order to protect it from being lost or stolen, then it is permissible because of that necessity for the owners of the company to get rid of the interest which the bank gives them on their deposits.
Allah Knows Best
Moustafa Morsy