Sallams Mufti Adam.
I wanted to ask what is the best app or website to get halal stock screening for my shares?
As I’m not good at all in doing it myself.
Please could you recommend where I should go to get this done or what App I should use?
Jazkallah
Wa alaykum salaam,
There are a number of Apps, which all of having different customer experiences and prices. Check out the following:
Zoya
Islamic Investor
Finispia
Jazkallah Mufti Saab.
Also is Islamic city App okay to use?
I was looking into it while waiting for your reply.
Sorry I meant Islamicly*
Yes, that App is okay too.
Jazkallah.
Sorry to keep bombarding you with questions.
I went to a bayyan where i heard that shares need to be a long term investment in order to be not considered gambling. Like for example you can’t jusy buy and sell shares to make a quick profit.
So what timeframe would a long term investment be?
Also if you buy shares and after a month months the share price goes high which makes you a decent profit. Can you sell the shares?
Jazkallah
Assalaamu alaykum,
What the speaker probably was referring to was day trading. A number of scholars oppose the idea of day trading as the transfer of ownership and risk is highly questionable in such trades. Therefore, you can trade after settlement T+2, that will make the trade permissible as long as the other Shariah requirements are met.
Allah knows best
Jazakallah , completely understand from a non controversial perspective to wait for settlement T+2 but in some instances due to sudden market dynamic changes , is it OK to sell before settlement as long as you have bought the share pending physical delivery ? For instance a Shariah compliant share had been bought on Friday and over the weekend some negative news on the company gets published , hence in anticipation of big drop , you sell on Monday at market open ?
If you do that, then you only have right to the capital amount at the time of purchase and not any additional gain.