I understand that a Muslim is allowed to receive interest from non-Muslims who give it as part of their usual financial dealings. On this basis, is it also allowed to buy shares of non-Muslim banks?
I understand that a Muslim is allowed to receive interest from non-Muslims who give it as part of their usual financial dealings. On this basis, is it also allowed to buy shares of non-Muslim banks?
Sayyed Mohammad Al-Musawi, Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to... Answered 8 months ago
No. There is a big difference between these two situations. Receiving interest from non Muslims as part of their practice, does not mean that you can invest your money in the bank as a share holder. Muslim is not allowed to buy shares of any company indulged in unlawful (Haraam) business.
Wassalam.