Author: Dr. Muhammad Zia-ur-Rahman Azmi (رحمه الله)
"And cooperate in righteousness and piety, but do not cooperate in sin and transgression."
[Surah Al-Ma’idah: 2]
Furthermore, the Prophet ﷺ cursed those who:
"They are all equal in sin."
[Sahih Muslim, Hadith No. 1598/106]
Engaging in Riba transactions is equivalent to waging war against Allah and His Messenger, leading to divine punishment and severe consequences, as Allah ﷻ warns:
"Those who consume Riba will not stand except as one whom Satan has driven to madness by his touch. That is because they say: 'Trade is just like Riba,' whereas Allah has permitted trade and forbidden Riba."
[Surah Al-Baqarah: 275]
[Shaykh Ibn Baz: Majmoo’ al-Fatawa wal-Maqalat, 19/145]
Islamic Ruling on Buying and Selling Bank Shares
It is not permissible to buy or sell shares of banks because:- It involves the exchange of money for money without meeting the conditions of equal value and immediate possession, which can lead to Riba (usury).
- Banks operate on an interest-based system, and engaging with such institutions financially constitutes cooperation in sin and transgression.
"And cooperate in righteousness and piety, but do not cooperate in sin and transgression."
[Surah Al-Ma’idah: 2]
Furthermore, the Prophet ﷺ cursed those who:
- Consume Riba
- Give Riba
- Record Riba-based transactions
- Act as witnesses to Riba
"They are all equal in sin."
[Sahih Muslim, Hadith No. 1598/106]
Advice to Muslims:
Your true wealth is your lawful capital, and I advise you and all Muslims to completely avoid any involvement with Riba-based institutions and seek repentance for any past transactions.Engaging in Riba transactions is equivalent to waging war against Allah and His Messenger, leading to divine punishment and severe consequences, as Allah ﷻ warns:
"Those who consume Riba will not stand except as one whom Satan has driven to madness by his touch. That is because they say: 'Trade is just like Riba,' whereas Allah has permitted trade and forbidden Riba."
[Surah Al-Baqarah: 275]
[Shaykh Ibn Baz: Majmoo’ al-Fatawa wal-Maqalat, 19/145]