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    Stocks and Islam

    I would like to know our Gupshup Scholars to elaborate a little on this issue.

    Is buying stocks halal? For some odd reason it seems to be a stupid question but i was thinking what the heck i might as well ask.
    Life became all Gray! But NOW i have decided to paint it all over again.

    I Tawt I Taw A Puddy Tat

    #2
    Re: Stocks and Islam

    No. Since it falls under "Game of Chance" ie. Gambling.
    "The sky is my dome and the earth is my prayer mat"
    - - -
    "Verily the ink of a scholar is more holy than the blood of a martyr"

    Comment


      #3
      Re: Stocks and Islam

      Originally posted by itsme01
      No. Since it falls under "Game of Chance" ie. Gambling.
      Doesn't going into business fall under "game of chance"?

      Comment


        #4
        Re: Stocks and Islam

        The risk is far higher in Stocks.
        "The sky is my dome and the earth is my prayer mat"
        - - -
        "Verily the ink of a scholar is more holy than the blood of a martyr"

        Comment


          #5
          Re: Stocks and Islam

          Also, if you make any gain, that money cannot be used for personal purposes. The money gained from stocks/lottery/ can only be given to charity.
          "The sky is my dome and the earth is my prayer mat"
          - - -
          "Verily the ink of a scholar is more holy than the blood of a martyr"

          Comment


            #6
            Re: Stocks and Islam

            Originally posted by itsme01
            The risk is far higher in Stocks.
            That depends on what sort of business you go into.
            So risk dictates what is haram and what is halal?

            Comment


              #7
              Re: Stocks and Islam

              Originally posted by NameInUse
              That depends on what sort of business you go into.
              So risk dictates what is haram and what is halal?
              ok let me elaborate:

              Stocks == You do not need to work, to gain profit.
              Lotteries == You do not need to work, to gain profit.
              Gambling/Bets == You do not need to work, to gain profit.

              Therefore they are Haram.
              "The sky is my dome and the earth is my prayer mat"
              - - -
              "Verily the ink of a scholar is more holy than the blood of a martyr"

              Comment


                #8
                Re: Stocks and Islam

                To have any success with stocks, it requires a LOT of work.

                Comment


                  #9
                  Re: Stocks and Islam

                  itsme01-stocks.....i wish what u said was true *sighs*!
                  "Are you Laiiiiike .....Chaaicking me Aoout?"

                  Comment


                    #10
                    Re: Stocks and Islam

                    achi baat hai....its good that a large population stay out of stock market....more arbitrage opportunities for the rest of us...
                    "Are you Laiiiiike .....Chaaicking me Aoout?"

                    Comment


                      #11
                      Re: Stocks and Islam

                      Originally posted by itsme01
                      ok let me elaborate:

                      Stocks == You do not need to work, to gain profit.
                      Lotteries == You do not need to work, to gain profit.
                      Gambling/Bets == You do not need to work, to gain profit.

                      Therefore they are Haram.
                      So are all the stock analysts, brokers, and traders not doing any work to gain a profit? Are you sure about that?
                      But I thought stocks were totally halal. It is against Islam to pay and ask for interest. Isn't having a share exactly what is prescribed in islamic mortgage? Isn't buying a stock like being a partner in a company? So, by extension, is it haram to have a business partner as well?

                      Comment


                        #12
                        Re: Stocks and Islam

                        Stocks are fine. There is even an index managed by (I think) a British company that offers "halal" stocks (i.e. those that avoid breweries, Western arms companies like Lockheed, etc).

                        I personally would never invest in many companies because of moral objections, so watch where you put your money.

                        Comment


                          #13
                          Re: Stocks and Islam

                          Originally posted by itsme01
                          No. Since it falls under "Game of Chance" ie. Gambling.
                          Not really, I believe. There are different ways of "investing". You can invest in a business as long as its core business is not towards haram products etc. banking (interest based), beer/wine etc.

                          In "gambling", "lottery" you lose ALL what you "invest", however in "stocks" you might lose a certain percentage but not ALL, only in rare cases a company goes 'pink' but still you get to keep a paltry % of your money. In most lottery/gambling your money is multiplied by a BIG number, in most of investments your money doesn't get multiplied by a good factor overnight.

                          Comment


                            #14
                            Re: Stocks and Islam

                            Originally posted by itsme01
                            ok let me elaborate:

                            Stocks == You do not need to work, to gain profit.
                            Lotteries == You do not need to work, to gain profit.
                            Gambling/Bets == You do not need to work, to gain profit.

                            Therefore they are Haram.
                            You know you are going to head into a wall soon with this theory.

                            Here is a scenario. I am a wealthy businessman and i meet a poor pharmacist who doesnt have any money to do a start-up. I finance the whole thing with my million bucks and give him a partnership for free in exchange for running the shop. So, I just sit on the sideline to reap the profits while he does all the work. So, technically, that is haram too, right or is it?
                            A man is like a wild orchid--free and exotic, and makes a great conversationalist and friend; but, when you pluck one and bring it home, it withers and dies. --dope

                            Comment


                              #15
                              Re: Stocks and Islam

                              is playing loterry haram?
                              Patta patta boota boota haal hamaara jaane hai
                              Jaane na jaane gul he na jaane, baagh to saara jaane hai

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