Sallams Mufti Saab
I had invested into a stock 2 months ago when it was sharia compliant.
Since then the price has declined significantly so I’m in a loss.
Due to the price decline according to the Islamicly App this stock has now failed cash complaince and is sharia non complaint.
As far as i remember i think you mentioned that it is okay to still be invested into this stock until i recoup my intial investment and break even. Any profit made when selling the stock at the break even stage would have to be given in to sadaqat.
Is this correct?
Also I wanted to know that. While I’m in this non complaint stock, waiting for it to breakeven so I can sell it. If in that time it turns sharia compliant, am I able to:
1.Carry on holding the share and not have to sell it due to the compliance change.
- If it makes me prfoit and I sell can i keep the profit as the sharia compliance has change back to being complaint.
Do I have to sell it at the break even point and then buy in again as a fresh start?
Because I held the stock through it being non complaint for a period of time.
Please could you let me know about this different situations.