Aadil
29 January 2021 14:29
#1
Asalam alaykum,
I decided not to buy gamestop based on the Zoya app rating of shariah non-compliant
But this article suggests its permissible (ignoring the market manipulation aspect)
Could you please give more details on the differences of compliance?
JazakhAllah khair
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AA: I had the same question while reading the article.
Wasalam
May Allah bless you.
I hope the link below answers your question:
Wasalam
May Allah bless you.
If the share is halal and the transaction is in line with the correct shariah paramètres, then it is permissible to buy the shares.
However, morally it is wrong to take part in this sort of market manipulation. Under an Islamic system, the leader of the Muslims could even stop this type of behaviour.
If it is proven that such action causes harm to people, then it can even be considered as haram.
And Allah knows best!
Kind regards
Aadil
1 February 2021 16:25
#4
Asalam alaykum
JazakhAllah khair for your reply Mufti
Yes, this was mentioned in the article, however my question was about the share itself whether its halal, because I saw that it wasn’t on the Zoya app but somehow the article seemed to suggest it was…
Salaam - to clarify we didn’t run a sharia screen on the stock itself. I agree with Zoya that the stock itself is not sharia compliant at this stage.
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