What Should One Do if One Finds Out His Stocks Are Non-Shariah Compliant

CategoriesTrade, Business & All Things Money [552]

Fatwa ID: 05894

 

Answered by: Shaykh Ahmed Bin Mohamed Umarji

 

Question:

 

 

If someone bought stocks of a company that was shariah-compliant at the time of purchase and after a few weeks or so that company was placed as questionable and then after as Shariah non-compliant. So what should a Muslim do in such a situation? Is he obligated to sell off and get out and what about any profit earned, is it halal or what?

 

 

In the name of Allah, the Most Gracious, the Most Merciful

 

Answer:

 

The percentage of what comes from shariah non-compliant avenues should be given away in charity without the intention of reward.1

 

If the company becomes completely shariah non-compliant the stocks should be sold and the profits earned after the stock became shariah non-compliant should be given away in charity.

 

 

 

Only Allah knows best

Written by Shaykh Ahmed Bin Mohamed Umarji

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

 

 

 

 

1 Contemporary Fatawa [Mufti Taqi Uthmani], Page 153, Idara-e-Islamiat Lahore Karachi Pakistan 200

 

 

 

 

 

 

About the author