Are stock markets halal?

[kritikvernunft]

This a fishing attempt to get people to click onto a site that will give your computer a virus. I strongly reccomend that this poster is banned.

“And they who do not bear witness to what is false....” (Surah al-Furqān 25:72)
“...These shall be regarded with high places...” (Surah al-Furqān 25:75)
“...therefore avoid the uncleanness of the idols and avoid false words.” (Surah Hajj 22:30)

The Holy Prophet (S) says, “To testify falsely tantamounts to polytheism.” It is mentioned in Tafsīr Abdul al-Fath Razi that the Holy Prophet (S) repeated this statement thrice and then quoted the above ayat (Surah Hajj 22:30)

Could someone verify that NOT one single of the links that I mentioned is a virus site? According to Sharia Law, that should allow us to call this person for what he really is, that is, a stinking, filthy dog of his utmost detestable pagan ("kufr") race.

 

[kritikvernunft]

This a fishing attempt to get people to click onto a site that will give your computer a virus. I strongly reccomend that this poster is banned.

I have mentioned exactly 4 links in my post. Concerning your accusation, I have created a scanurl report for each url:

scanurl.net: Check website or URL/link safety: reports of phishing, hosting malware and viruses, unwanted software, or poor reputation.

In each of the following reports, you will find the following standard mention:

It's probably safe to visit the website/URL you entered. None of the services we checked with report it as suspicious.

Here are the 4 scanurl.net reports for my urls:

• http://scanurl.net/?u=https://block...hP4v6WiDnBb38kuAP&uesb=Check+This+URL#results
• http://scanurl.net/?u=http://coinig...ScZWgyrjrOGGw4%3D&uesb=Check+This+URL#results
• http://scanurl.net/?u=http%3A%2F%2Fbitcoinfoundation.org%2Fforum%2Findex.php%3F%2Ftopic%2F656-signing-weakens-bitcoin-security%2F&uesb=Check+This+URL#results
  
• http://scanurl.net/?u=https://en.wikipedia.org/wiki/Variance&uesb=Check+This+URL#results

This is full proof that there is nothing wrong with any of these urls.
This is full proof that you are bearing false witness.

Therefore, in accordance with Sharia Law and the provisions in the Quranic text concerning this particular criminal offense ("false accusations"), these reports are full proof that you are a filthy pagan dog of your utmost destestable and accursed race of kufr animals.

 

[Tim_the_Plumber]

“And they who do not bear witness to what is false....” (Surah al-Furqān 25:72)
“...These shall be regarded with high places...” (Surah al-Furqān 25:75)
“...therefore avoid the uncleanness of the idols and avoid false words.” (Surah Hajj 22:30)

The Holy Prophet (S) says, “To testify falsely tantamounts to polytheism.” It is mentioned in Tafsīr Abdul al-Fath Razi that the Holy Prophet (S) repeated this statement thrice and then quoted the above ayat (Surah Hajj 22:30)

Could someone verify that NOT one single of the links that I mentioned is a virus site? According to Sharia Law, that should allow us to call this person for what he really is, that is, a stinking, filthy dog of his utmost detestable pagan ("kufr") race.

The trouble with the internet is that it allows the mad to convince themselves that they are clever.

The trouble with Islam is it allows the mad (and the rest) to consider the opinions of non-Muslims to be unimportant. And thelives of others equally unimportant. If the others are Muslim, well, just define them as the worng sort of Muslim and hay presto!

 

[kritikvernunft]

The trouble with the internet is that it allows the mad to convince themselves that they are clever.

Your problem is that the internet keeps a record of what you say. Therefore, you cannot revoke your written statements. A lot of people like you have a big problem with that. You obviously have a long-standing habit of scheming, lying, and blackmouthing. It does not work that well on the internet, because everybody can see what you are doing. You say something verifiable with the purpose of blackmouthing, and what you have said, can trivially be verified to be a lie. You are utterly dumb. You are an imbecile.

The trouble with Islam is it allows the mad (and the rest) to consider the opinions of non-Muslims to be unimportant. And thelives of others equally unimportant. If the others are Muslim, well, just define them as the worng sort of Muslim and hay presto!

There is no religion in the world in which it is permissible for you to bear false witness or to make false accusations. Just read this here:

Exodus 20:1–17, Deuteronomy 5:4–21 "Thou shalt not bear false witness against thy neighbour" is the ninth of the Ten Commandments, which are widely understood as moral imperatives by legal scholars, Jewish scholars, Catholic scholars, and Post-Reformation scholars. The book of Exodus describes the Ten Commandments as being spoken by God, inscribed on two stone tablets by the finger of God, broken by Moses, and rewritten on replacements stones by the LORD.

Proverbs 6:16–19: There are six things that the LORD strongly dislikes, seven that are an abomination to him: haughty eyes, a lying tongue, and hands that shed innocent blood, a heart that devises wicked plans, feet that make haste to run to evil, a false witness who breathes out lies, and one who sows discord among brothers.

Therefore, in accordance with Biblical provisions, your wholesale condemnation implies that you are an abominable individual, with a detestable lying tongue, who devises wicked plans. You are a false witness who breathes out lies. In accordance with Biblical determinations, you must be rejected, shunned, reprobated, excommunicated, and denied because you are an accursed and utterly detestable liar.

 

[aamirsaab]

The ruling on riba isn't confined to interest in and of itself, although it does encompass that.

The ruling in simple terms is: the closer the two items of trade, the greater the risk of that transaction being riba (impermissible)

I.e;
X for </> X = riba
X for </> Y = permitted transaction


With stock market, you are buying and selling a currency for another. Whilst a GBP is not a USD (so technically this is an X for Y trade) the underlying principle of the afformentioned ruling renders this transaction as riba (ya boi got tongue twisters!) as we are trading a medium of exchange (therefore X to X transaction). Hence stock market is impermissible.

Source: I have an MA in Islamic Finance.

 

[kritikvernunft]

Whilst a GBP is not a USD (so technically this is an X for Y trade) the underlying principle of the afformentioned ruling renders this transaction as riba (ya boi got tongue twisters!) as we are trading a medium of exchange (therefore X to X transaction).

It sounds like it would be forbidden to exchange GBP to USD, but what if you are a British resident in need of visiting the USA? You only have GBP. How will we you get hold of USD for the purpose of your visit? It almost sounds like something like travel itself would be forbidden ...

 

[ardianto]

Honestly, I didn't read the original post. So I thought it's about stock market where companies sell their shares, but then I notice actually it's about currency exchange.

But about currency exchange itself, many scholars allow it as long as in cash and done at the moment, without delay like in "Forward", or in other form like in "Swap", or "Option" transaction.

 

[talibilm]

It sounds like it would be forbidden to exchange GBP to USD, but what if you are a British resident in need of visiting the USA? You only have GBP. How will we you get hold of USD for the purpose of your visit? It almost sounds like something like travel itself would be forbidden ...

Hope this hadith would enlighten us in this issue inshallah, Kindly discuss .jzk.

Dawud :: Book 22 : Hadith 3348
Narrated Abdullah ibn Umar: I used to sell camels at al-Baqi for dinars and take dirhams for them, and sell for dirhams and take dinars for them. I would take these for these and give these for these. I went to the Apostle of Allah (peace_be_upon_him) who was in the house of Hafsah. I said: Apostle of Allah , take it easy, I shall ask you (a question): I sell camels at al-Baqi'. I sell (them) for dinars and take dirhams and I sell for dirhams and take dinars. I take these for these, and give these for these. The Apostle of Allah (peace_be_upon_him) then said: There is no harm in taking them at the current rate so long as you do not separate leaving something to be settled.

 

[kritikvernunft]

as you do not separate leaving something to be settled.

Ha! This is indeed what reveals the real problem!
Derivatives are not allowed. That is clear now. They are clearly haram.
There is another problem with implementing this, however.
Imagine that I buy boxes with apples, get them delivered now, but I pay only in 30 days.

Is this forbidden?

That would be a problem, because a lot of retail works like this. The shop gets 30 days to sell the products and then pays the supplier from the money has received from the shoppers. A lot of wholesalers use the "trick" to get retail shops to sell their products for them. For the shops, is almost as important as the margin that they would be able to make on the sales. Quite a bit of retail would be a problem without this. There is a strong temptation for wholesalers and shops to do this. Is it haram?

 

[aamirsaab]

Ha! This is indeed what reveals the real problem!
Derivatives are not allowed. That is clear now. They are clearly haram.
There is another problem with implementing this, however.
Imagine that I buy boxes with apples, get them delivered now, but I pay only in 30 days.

Is this forbidden?

That would be a problem, because a lot of retail works like this. The shop gets 30 days to sell the products and then pays the supplier from the money has received from the shoppers. A lot of wholesalers use the "trick" to get retail shops to sell their products for them. For the shops, is almost as important as the margin that they would be able to make on the sales. Quite a bit of retail would be a problem without this. There is a strong temptation for wholesalers and shops to do this. Is it haram?

Delayed or immediate payment in and of themselves do not equate to halal or haram. In the example quoted, there is a verbal or written trade contract in place which strongly implies that the goods will be paid for by a certain date and the transaction will be settled - both parties know this going in and have agreed to it so the transaction would be deemed permissible. (btw I think we are straying away too much from the topic of stock markets...)