Currently, in the app, we have no way of knowing if a stock is normally shariah compliant. As an investor, I’d like to take a long view of companies and invest in businesses that I believe are shariah compliant. That being said, the use case in the app right now is based on the current numbers and the shariah compliant status might not be an indicator of how things “normally” are. Would love to see this addressed in the app.
Personally, I avoid companies, whose ratios are close to the forbidden levels. Also, I try to stay away from companies that consistently borrow.
Also, I try to invest in companies, whose halal products would still be likely needed after 20 years from now, so they’re unlikely to shift to making haram products to remain viable.
Walaikummus salam. I think it would be very useful to have this feature. I currently have a stock which just turned non-compliant and was notified via watchlist alert. However, currently the stock is a loss for me and would like to keep it until it breaks even. So long term compliance would be very useful. If the stock was generating a profit and continued to be non-compliant, i would sell and purify the gain.
Salaam @SGhazi, welcome to the community, and thanks for sharing that story. That’s a great example for our product team. If I could ask you to vote on the idea that’d be very handy. Right at the top next to the Topic Title.
While I understand your point brother, a suggestion here would be
(1) holding or selling should not be based on if you have a profit or loss in the position. You hold it if thd future is still rosy and vice versa.
It’s tricky that there is another element now of Shariah compliance I believe the ruling is to allow about 6 months as stocks can be out of compliance based on stock price movement or transient balance sheet items.
