Is it permissible to check one's investments during Eid?

[SintoDinto]

Or is all work, including that, forbidden? I have begun the process of trading on the stock market as an amateur, and I want to know if I can check the markets for a crisis during Eid. Should I just withdraw all my money to my bank account before eid? i worry something might come up

 

[IslamLife00]

First, make sure you are investing into something halal, because you will be using the income from this investment for yourself and others.

https://islamqa.info/en/answers/100214/ruling-on-eating-from-haraam-earnings

If you have invested and later on found out that it is haram investment - find a way to withdraw your investment, otherwise you will be held accountable for it and the income from it.

 

[SintoDinto]

First, make sure you are investing into something halal, because you will be using the income from this investment for yourself and others.

https://islamqa.info/en/answers/100214/ruling-on-eating-from-haraam-earnings

If you have invested and later on found out that it is haram investment - find a way to withdraw your investment, otherwise you will be held accountable for it and the income from it.

If you invest into a roboinvestor (roboadvisor) app that takes your money and invests your money for you, depending on the level of risk, and I didn't want to invest in bonds more so so I chose a more aggressive investment option where less than 7 percent went to banks and according to one article i read i can donate that to charity, is this permissible?

 

[IslamLife00]

If you invest into a roboinvestor (roboadvisor) app that takes your money and invests your money for you, depending on the level of risk, and I didn't want to invest in bonds more so so I chose a more aggressive investment option where less than 7 percent went to banks and according to one article i read i can donate that to charity, is this permissible?

Akhi, I think you are taking too much risk. It's your money, but the app will decide where to invest your money for you?
How do you even know where it will invest it?
Is there a way for you to find out, at least list of companies that it has invested your money in?
Do you have control over which companies, which product/service this app is allowed to invest your money in?

If you mean donating income from haram investment to charity, it is a part of repentance according to the link below :

https://islamqa.info/en/answers/142...-invests-it-is-the-profit-permissible-for-him

If he took it in a haraam transaction, such as selling something haraam, or as wages for haraam work, such as bearing false witness or singing.
In this case, part of his repentance is to give in charity whatever he has in his hand of this wealth.
If he is in need and he used the money to do business or to buy a car with which he can earn an income, then we hope that there is nothing wrong with that,
but if he can give in charity the same amount as the haraam wealth, that is better and makes his repentance more complete.

 

[SintoDinto]

Akhi, I think you are taking too much risk. It's your money, but the app will decide where to invest your money for you?
How do you even know where it will invest it?
Is there a way for you to find out, at least list of companies that it has invested your money in?
Do you have control over which companies, which product/service this app is allowed to invest your money in?

If you mean donating income from haram investment to charity, it is a part of repentance according to the link below :

https://islamqa.info/en/answers/142...-invests-it-is-the-profit-permissible-for-him

If he took it in a haraam transaction, such as selling something haraam, or as wages for haraam work, such as bearing false witness or singing.
In this case, part of his repentance is to give in charity whatever he has in his hand of this wealth.
If he is in need and he used the money to do business or to buy a car with which he can earn an income, then we hope that there is nothing wrong with that,
but if he can give in charity the same amount as the haraam wealth, that is better and makes his repentance more complete.

it gives a list of which companies they use and it's always the same, but there are different modes. based on the level of risk. the highest risk one has 7-10 percent invested in banks or 7 percent invested in banks and some invested in a financial investments company. it lists the companies. can i continue to invest with them and give to charity, or do i have to stop? i read that if the interest rate if lower than 5 percent you can give to charity.

 

[IslamLife00]

it gives a list of which companies they use and it's always the same, but there are different modes. based on the level of risk. the highest risk one has 7-10 percent invested in banks or 7 percent invested in banks and some invested in a financial investments company. it lists the companies. can i continue to invest with them and give to charity, or do i have to stop? i read that if the interest rate if lower than 5 percent you can give to charity.

Akhi, I am not sure where you read that. If an investment is haram, then regardless how low the rate of interest, you are not supposed to invest in it.

I suggest either you withdraw all of your investment and donate the income from it to charity. You can take some of the income if you need, but better to donate all of it as well you make repentance to Allah.

Or you can research each company your money is already invested in. And if you find a company is dealing with something haram, then withdraw your investment from that particular company/companies.
But this will take much time and effort from your part, and investment is usually not easily withdrawn once it is in.

There are halal options you can invest in. But first make sure your money is not invested in something that can cause you regret in the grave and Judgement Day.