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To Purchase Riba-bearing Shares

Q: Is it permissible to purchase some shares of a bank that deals in riba? Is buying and selling these shares on the same day allowed? And what about long term or short term investment of these shares? Also, is this ruling a fatwa or a cautionary issue?
A: Purchasing riba-bearing shares is absolutely impermissible. The ruling mentioned is a clear-cut fatwa.

Q: Is it permissible to purchase some shares of a bank that deals in riba for the appreciation in their value and not for the shares’ profit?
A: Buying the shares of a bank or a financial organization that deals in riba is not permissible.

350 View | 02-04-2014 | 13:54


 
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