Ribaa Archives

Having shares in companies and banks

Fatwa, Fatwa Focus, Forbidden Wealth, Ribaa, The Permanent Committee for Islaamic Research & Verdicts 3 February 2000 Abu 'Abdullaah

What is the ruling about having shares in companies and banks’?

Having shares in the Saudi-American Bank

Fatwa, Fatwa Focus, Forbidden Wealth, Ribaa, The Permanent Committee for Islaamic Research & Verdicts 3 February 2000 Abu 'Abdullaah

Advise us, may Allaah increase you in knowledge, about the ruling of having shares in the Saudi-American Bank. Is it ribaa, since it trades in interest and is based upon interest, as we know?

Having shares in the Islaamic Bank

Fatwa, Fatwa Focus, Ribaa, The Permanent Committee for Islaamic Research & Verdicts, Transactions 3 February 2000 Abu 'Abdullaah

And that which we have understood is that the bank in question does not trade in ribaa and that the money from the sale of the shares will be used in trading activities which are free from any dealings in interest.

Employee of a bank wishes to perform Hajj using his earnings

Fatwa, Fatwa Focus, Pilgrimage [حج و عمرة], Ribaa, Shaykh Saalih ibn Fowzaan 27 January 2000 Abu 'Abdullaah

I am an employee at a bank, so is it permissible for me to perform Hajj from my earnings?