Stocks

📈 Investing & Markets
#1

I have a question.
Where in quran can I reade If there 5 procent less in intreset its okay or its halal stock.
I cant cant find it?

#2

Salamo aleykom brother,

This is not the way Jurisprudence (Fiqh) works in islam.
The 5% is what we can call an “Ijtihad”, a group of scholar in the field of finance worked on the subject and came out on that percentage which is “acceptable”. The question of course, is way more complex that my few lines of explanation. But as long as you know that this is an effort of many international scholars in that field, you can trust it.

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#3

Note that for these cirteria you have basically two opinions on stocks. One that allows it with certain conditions like the one you provided (which is the majority) and another opinion stays that the company should be 100% clean (charika naqiya).