Salam alikum Mufti Sahib,
I am researching on internet from few days and I found out that for Commodities we must need ownership, I can also see the conditions of trading shares of companies such as, companies work must be Halal, if companies involve in interest based transactions we must give certain amount of charity but I’m still unsure and couldn’t find the right answer of this question " Do we need to have ownership of the share of halal companies or we can take Contract between client and broker as ownership" ? because in the end our trade has real and actual value in the market and it happens in real time ( This is what my broker Vantage FX said as they provide Islamic Shariah complaint accounts for Muslim customers)
Could you please advise me on that?
Kind regards
Wa alaykum salaam,
You must take ownership of whatever you are investing in. A mere contract does not always reflect ownership.
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