This is because it is understood to be exploitive. Interest is haram because it is classified as Riba under Islamic Law. Here’s a list of common haram Industries you ought to be aware of: Industry This means that you’re backing up the business in their activities and promoting their initiative by literally investing in them. Well, when you’re investing or buying a share in a company, you’re essentially a partial owner. Companies that engage in haram activities (Such as the production of recreation THC weed, alcohol, etc) are also haram to invest in. Do More Research 7 Steps To Finding Halal Stocksįollow these seven steps to make halal investing much easier Step 1: Find Out If The Company Is Halal Or Haram Use Investment Services That Offer Halal Stocks & ETFsħ. Only 5% Of Haram Revenue is PermissibleĦ. Cash Holdings of A Company Ought To Be Less Than 33%ĥ. Invest In A Socially Responsible and Conscious CompanyĤ. Find Out If The Company Is Halal Or HaramĢ. Here are 7 steps to determine whether a stock is Halal or not:ġ. However, not all companies listed on the stock market are Halal. There are some apps and programs that make halal investing easy which is covered in step 6. It will require some level of effort on your end.
However there are steps that can be taken to filter out haram stocks.
Yes, investing in the stock market is not so black and white. People living in North America or in the west have this idea that it is haram to purchase stocks. Many people in the muslim community are intimidated by investing in the stock market because of the fear of the unknown. After a ton of research, we’ve compiled a step by step guide to better assist you in making the right investment without scarfing your halal lifestyle.
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