Salam to all,
Why Palantir technology Inc is questionable ?
And what should they do to be a Shariah compliant?
Salam Adnan,
Saad responded, and I would add that for companies which have a mix of commercial/civil and military businesses, most of their profits (bottom line) is made from the government/military business, even if most of their revenue (top line) is derived from commercial/civil activities. This is true for Tech companies but mainly for companies in the Aerospace & Defense sector: The government/ military business is and will remain much more lucrative than commercial/civil contracts. Stocks move on earnings or projection of earnings, not sales. I personally double check these companies and I make sure as a Muslim NOT to invest in any company involved in military activities, even if it is only a portion of their portfolio. So it is really a personal decision, beyond any Sharia compliance status or ESG score. There are plenty of halal opportunities in the stock market.
Hope this help and Allah knows best.
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They need to shut down to be shariah compliant. Their tech is used to kill innocents, mainly in muslim countries.