"Jurist Yusuf Talal DeLorenzo notes in connection with injunctions against day trading that owning stocks for less than a day does not show a commitment to stewardship in ownership consistent with Islamic teaching. Focus Business Services of the UAE notes that the short period of “ownership” means day traders do not truly own what they trade, and furthermore pay interest, as marketable securities “generally have a multi-day settlement period, during which time the underlying instruments, while cleared, are not formally registered in the name of the purchaser. As day traders do not wait for settlement to complete, they are using a type of credit cushion provided by their broker.”
I want to know what Mohammda Taqi Usmaniy says on this regard. If you guys have any info about it. Please share and may ummah benefit from it.
Your thoughts Guys…!!