Islamic laws forbid gambling, so investments with a high risk component are not allowed. No investing in haram companies. Some industries are simply off-limits to halal investors, including alcohol, pornography, gambling and pork products. Donate profits from haram investments to charity.
Islamic principles discourage debt in general; interest payments on debt owed are viewed as usury, exploitative of the debtor, and are thus prohibited (haram). Islamic principles therefore prohibit investment in conventional bonds and other debt securities that generate interest income.
Conclusion. We at IFG take the view that Apple stock is probably one to be avoided from a sharia-compliance perspective due to the risk of non-sharia-compliant revenue streams. Apple also has a lot of debt, so we would avoid due to that.
Therefore, Amazon is considered to be one of the doubtful stocks. This is the reason why stock screening companies such as Musaffa does not include Amazon in the list of top halal stocks. To read more about Islamic Finance related topics, please click here and visit our academy.
Among the major cryptocurrencies, Bitcoin, Ethereum, and Dogecoin come under the halal category, while Shiba Inu (SHIB) token, Alpha, and PancakeSwap (CAKE) are labelled haram. To use CryptoHalal, a user must enter the name of the cryptocurrency.
Investing in stock / share market - Assim al hakeem
Is Bitcoin halal or haram?
Individuals are usually interested in cryptocurrencies to earn profit. They can buy, hold, sell, or make short-term trades (e.g., minutes, hours, or days). Sharia does not consider crypto Haram unless it deals with impermissible activities related to Riba, Maysir, and Gharar.
We at IFG take the view that Netflix stock is not sharia-compliant as it likely has more than 5% of its revenue from haram sources. A summary of our analysis. The business – use your judgment but we think best avoided.
The total amount of securities that earn interest should not exceed 30% of its market capitalization. Therefore, we conclude that it passes the last criteria as well. Nike successfully passes all the screening criteria. Therefore, Muslim investors can comfortably invest in this stock.
Tesla (TSLA): Tesla is the world's 7th and the 3rd shariah compliant most valuable company with $528.59 Billion by market cap . Exxon Mobil (XOM): This is the world's 9th and shariah compliant 4th most valuable company with a market cap of $470.22 Billion .
However, it does not pass from the first criteria since a significant percentage of its revenue comes from unknown business activities. Therefore, McDonald's stock is marked as “Doubtful” at the Musaffa platform, and it is not recommended for Muslims to invest in such stocks.
Islamic laws forbid gambling, so investments with a high risk component are not allowed. No investing in haram companies. Some industries are simply off-limits to halal investors, including alcohol, pornography, gambling and pork products.
Halal investing is investing in businesses that align with Islamic principles. These principles include avoiding investments in companies dealing in prohibited products, such as alcohol, gambling, and tobacco.
According to Sunan Ibn Majah, the Islamic prophet Muhammad declared the practice of riba worse than "a man committing zina (fornication) with his own mother". In that hadeeth, he said that there are 70 sins of riba.
Over the years, there has been an increasing trend in gold investment, particularly among new investors. Gold trading is permissible (halal) in Islam. But, before trading the gold, every Muslim should know that gold is one of the Ribawi items. It means Muslims cannot trade it for future profit or speculation.
So, based on the data mentioned above, we can say that Coca-Cola stock is an excellent option for Muslim investors because it passes all the criteria to be found halal and not haram. However, some other platforms run extra screening analysis to check the stock's compliance status.
Although Alphabet Inc passes two financial screenings, more than 5% of its total revenue may come from unknown business activities. Therefore, Google stock is one of the doubtful stocks from a Sharia Perspective, and Muslim investors may want to avoid investing in such questionable investments.
Based on the data we found, we believe Tesla stock is halal (Shariah-compliant) because it passes all the criteria for the stock to be halal. To read more about Islamic Finance related topics, please click here and visit our academy. Feel free to sign up for our free stock screening services at musaffa.com.
Dropshipping in the standard form is considered haram. As a dropshipper, you don't own or store inventory. But you cannot sell it because you don't own a physical product. Like the teachings we can read from the Messenger of Allah SAW, which directly forbids the sale of unclaimed things or items not in your possession.
The Quran states in aya 2:275 that "Allah has permitted trade and forbidden usury." But not all trade is allowed in Islam. The Qur'an prohibits gambling (maisir, games of chance involving money).
“In Shariah, there is no valid reason to accept bitcoin or other cryptocurrencies as a currency. It is just an imaginary number, which is generated through a complex mathematical process. It is purchased for gambling or speculations, and used in illegal or unlawful transactions”.
