It was narrated that Abu Nukhaylah al-Bajali said: I came to the Prophet (blessings and peace of Allah be upon him) when he was accepting oaths of allegiance, and said: O Messenger of Allah, give me your hand so that I may swear allegiance to you, and stipulate conditions for me, for you know best. He said: “I accept your oath of allegiance on the basis that you will worship Allah alone, establish prayer, give zakaah, be sincere towards the Muslims and depart from the mushrikeen.” Narrated by al-Bukhaari (4177); classed as saheeh by al-Albaani in Silsilat al-Ahaadeeth as-Saheehah (2/227).
I live in Saudi Arabia. I think I want to invest in USA/UK. So, is it haram to invest in those countries, because I am supporting the company which is located in a kaffir country?
Second question: Should I invest in companies in this Muslim country (Saudi Arabia) or in kaffir countries, like USA/UK? (NOTE: I don’t want financial advice, but religious advice. Like, is it “wajib” or “mustahabb” to invest in Saudi Arabia?)
Jazak Allah khair!
May Allah reward us all the highest level of paradise.
As our context is different to yours, my advice would be to seek advice from your local scholars.
As far as I know, Saudi public investment fund is looking to invest in a Non-muslim club (Newcastle), located in a non-Muslim country. The chairman is HRH The Crown Prince.
Try to get in touch with them as they may be able to advice you better on its shariah compliance.
I think that is a long process. Please I don’t want to take long steps. And how would I contact a chairman? I think that’s something difficult and unique. I am just asking a question on Is it permissible to invest in companies locating in kaffir countries? I think it is a clear question. If not, then what is the point of having you scholars? (sorry, i am not being negative or mean)
Sorry I did not mean to contact the chairman rather it was as a mean of information that the fund must be a legit fund. Hence, they would have more information about the fiqh side of it. You must contact the admin and seek advice.
Otherwise, contact a local scholar as I don’t live in a Muslim country. I cannot tell you don’t invest here when I am paying my taxes to the UK government and I am buying products from UK companies right?
The local Mufti will understand the context you have asked better than me.
You can send your question to islamqa or the a recognised darul ifta in Saudi.
