Thursday, 22 March 2012

He acquired some wealth by means of haraam shares; how should he get rid of it?

I bought shares in a company that is not permissible according to sharee’ah, and I want to take out my capital; how should I get rid of the profits?.

Praise be to Allaah.

Wealth that is acquired by investing in haraam shares or via riba-based banks, must be gotten rid of by spending it on various charitable causes. It may be given to the poor and needy, or spent on the general interests of the Muslims, such as building hospitals or schools, or paving roads, or it may be given to seekers of knowledge and the like.

The scholars of the Standing Committee for Issuing Fatwas were asked: 

What is the ruling on buying shares in companies and banks? Is it permissible for a person who has bought shares in a company or bank to sell the shares after subscribing to a broker who buys and sells shares, and it is possible that they may be sold for more than the value for which the person bought them? What is the ruling on the interest that the shareholder takes every year on the value of the shares he holds? 

They replied:

Buying shares in banks and companies that deal with riba is not permissible. If the shareholder wants to get rid of his riba-based shares, he may sell his shares at the current market value, and take his original capital only; he should spend the rest on charitable causes, and it is not permissible for him to take any of the interest or profits of his shares. But if the shares were in a company that does not deal in riba, then the profits are permissible. End quote. 

Fataawa al-Lajnah al-Daa’imah (13/508). 

It also says (14/299): The basic principle is that it is permissible to buy shares in any company if it does not deal in haraam things such as riba and so on, but if it deals in haraam things such as riba, then it is not permissible to buy shares in it. Based on this, if any of the shares mentioned are in a company that deals with riba or any other haraam things, then he must withdraw from it and get rid of the profits by spending them on the poor and needy. End quote. 

And Allaah knows best.

From learning Quran online Blog. 

And notably& note that we want to discourse and share with you it is about Reading quran and doing Quran recitation online to appreciate it, Ramadan is the month when the divine Holy Quran has been brought out. A miracle by the Lord of the worlds, Allah (SWT) Should we not spiritualize him by reading Quran the natural endowment he has sent down for us and we should learn Arabic Quran by heart to have the power of it and we as Moslem should try to Learn Quran with translation to comprehend it while we do quran memorization and let our heart fill will teardrops of glory and wash away our sins in the month of Ramadan many people teach quran and we should participate in teaching quran as much as we could. important note to before starting to read Koran after social intercourse or menstrual bleeding one must not touch the holy Quran or do quran recitation and also not do quran memorization until after bathing non-Muslim should not handle the religious writing, but may listen up to Quran online. In relation to all these things in your thoughts when one is not reading or reciting holy Quran it must be closed and stored in nice and clean situation, it should never be placed on floor or in a privy and Muslim will require to focus on reading quran  the tajweed  quran and its normals with a proper institute.

End from online Quran reciter blog.

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