How about to Invest in questionable stocks? Maybe it’s better not to Invest them?
Welcome, @salikhov_nariman! The “Questionable” status in Zoya refers to companies with revenue segments that potentially fall into a gray area. For example, Google earns most of their revenue from advertising. While there is nothing inherently wrong with advertising, some investors may feel uncomfortable knowing that Google is serving up ads to products and services that may be objectionable such as casinos, pork-based products, or alcoholic beverages. Zoya will highlight such revenue segments for you so that you can make more informed investment decisions.
@Saadmalik,Apple and Microsoft are one of the holdings for Amana Mutual Fund (AMANX, AMAGX) which is Shariah compliant mutual fund.
Why Zoya has not declared it as Shariah compliant? Please advise.
At first, I’m not on zoya support team.
amana has many problem, they don’t updated their data, and false screening. You should not use Amana.
email@example.com This is my email, if you send an email I’ll personaly check that APPLE & Microsoft halal or haram.
On the basis of the shariah, in order for a transaction to be valid the object of the contract must be permissable for trade.
I would like to know if we trade/buy impermissable stock is there an issue with ownership?
Walaikum Assalaam Salma,
Could you give an example of your question?
An example of this is the buying, selling, importing exporting of liquor is impermissible (which you can think of as the impermissible stock).
Anything unlawful according to the shariah is forbidden for us to take the price of, whether to purchase or take profit from.
According to the shariah two conditions are required for a trade to be valid
- The person needs to have ownership
2.it must be permissable.
My question is can something impermissible be owned?
This example is context:
Say a Christian woman sets her mahr as a bottle of wine, which she does not collect.
She then becomes Muslim and collects her mahr.
What does she do with the liquor?
Does she drink it or sell it?
Apply this to acquiring unlawful stocks, say we purchase stocks and that in time we realise the stock is impermissible.
The issue of whether the transcation itself maybe be invalid let alone what we should do with the stock or its profit.