If you’re given free shares from a firm you work for, are these okay even if there’re not shariah comply?
In addition can we purchase more shares through Share Initiative schemes?
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Give me a little bit more detail about the circumstances behind receiving those free shares. why would a company give you free shares?
I work for the RoyalMail Group who if you don’t know are the oldest courier firm in the U.K.
In 2013 or there abouts the listed on LSE and gave employees free shares.
Since then they have ran a few saving schemes with HMRC which allows us to buy a few share every week and gain a few free as we go along.
I have recently joined Zoya and realised RMG shares are not shariah compliant.
The only step I’ve taken so far is to stop paying into the scheme for the future.
What’s the advice on these shares that I hold?
Should I sell up
Should I not buy anymore and hold the ones I have
Please advise.
Jzk
If the company you work for is out of compliance, but the revenue streams are permissible, you can wait one quarter after receiving them to see if the company changes into compliant. If not, you can sell the shares same as cash and keep it, as most companies award shares as an incentive for employees as it’s easier to award than cash.