icdbd-QA/0004: Buying Primary Shares
Question:icdbd-QA/0004
As salaamu alaikum.Is it permissible to buy shares in companies (primary shares from a company which
etc.Jazak Allah khairan for your answer.
Ma’assalaamah.
Answer: [Verified by Dr. Manzur-e-Elahi]
Wa ‘Alaikumussalaam.
Praise be to Allaah.
It is basically permissible (we assume that, the company is doing business, even though it has not entered the share market).
Just one caution – we are not sure whether AB bank is an Islamic Bank governed by Shariah norms.
And Allaah knows the best!
AB bank has opened an islamic wing. But basically it is an interest based bank although the name implies otherwise.
Thanks! Jazakillahu Khaira!!