Some past earnings haram?

Investment Questions and Chats General Investment
#1

Assalam’alaykum…

I have a question, if any of the mufti on board could clarify, would be grateful.

So before stumbling across islamic finance guru and other shariah compliant sites/apps. I had been investing/trading in shares for a year, almost everyday.

My criteria was buying shares which on the surface wasn’t haram, i.e no finance, no gambling, no alcohol, no weapons companies etc…

Obviously now i have come to learn, many of my trades were not actually shariah complaint, one small example being alibaba, more than 5% company income derived was from interest. Other trades looking up now had debt in excess of 33% etc. Did many daytrades (100s), now come to learn can’t sell before settlement (t+2). Have many such examples. However many other trades looking back i.e tesla, teladoc were shariah compliant.

At the time i thought it was aright to buy any company as long as nature of business not haram, obviously now have come to learn otherwise.

So my question is, what do i do with my profits. It’s practically impossible to derive which trades were shariah legal or not as have 1000s of them. Funds from legit trades mixed in wtih others. Everything has compounded and mixed in together, profits from illegit trades reinvested into legit trades, vice versa, etc.

What do i do? Jzk

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#2

Asalam Alaikam brother.

Whilst I’m no mufti or scholar by any means, my understanding is that you where unaware of the full methodology of screening, as many of us where, but you still tried to remain compliant with what you did know.
Now that we have better comprehension of the subject (thanks to the IFG team) we need to act upon this new found knowledge and implement it practically henceforth.

#3

Jzk for the input Naz, so what about my gains? Pay 5% to charity on everything and carry on as normal?

No way of working exactly where everything (legit or illegit) come from, all entangled.

#4

Wasalam

May Allah bless you.
To be on the safe side, just make an honest guess of how much haram money might have been generated from your investments. Once you have done that, then donate it into charity. If you can’t do it in one go then give as much as you can when ever you have a chance.

And Allah knows best!

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