Assalamu Alaikum wa Rahmatullahi wa Barakatu,
Me and a number of friends are getting started in investing, and so I just wanted to clarify the process to make sure it is Sharia compliant.
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I am using MuslimXchange to check Shariah compliance of Stocks (AAOIFI mainly) - is this a reputed and accepted source? This is the one based in Canada.
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My understanding is that as long as the Stock/ETF is Shariah compliant and you purify your dividends when necessary that is enough for the income to be considered Halal? Is that correct? I know there is some difference of opinion about capital gains but I would like to take the opinion that only dividends are purified.
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I am aware there is a possible condition about voicing one’s objection to the company about their haram/interest-based dealings? Is that a hard requirement that if left would make the profit Haram, or can I take an opinion where that is not necessary at all regardless of the size of the company or the influence I may have therein?
Jazakumullahu Khairan.