Mufti Online — Madrasah Ta'leemuddeen

Purchasing shares in a bank

· 17 Muharram 1441 AH1 min readEnglish

Question

Is it permissible to have shares in banks intending to derive dividends only from bank charges income even though the money is mixed?

Answer

Some of the bank charges are of a permissible nature and some are of an impermissible nature. Hence, how will you be able to distinguish the permissible from the impermissible. Further, the major operation of the bank revolves around haraam, and they are not going to be concerned of refraining from it. Hence, you should not invest in a bank.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Ebrahim Salejee (Isipingo Beach)
View original Compare with other Darul Iftas
Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, please ask a Mufti. Report an issue

For corrections or mistakes, please email us at fatawasa786@gmail.com.

Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/30459
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-30459

Related fatawa