Profit sharing and investing in al-Raajihi shares
Question: 116021
What is the ruling on profit sharing (mudaarabah) and investing in shares of al-Raajihi Bank?.
Praise be to Allah, and peace and blessings be upon the Messenger of Allah and his family.
It is permissible to engage in profit-sharing and investment
in shares of al-Raajihi bank so long as they are pure shares and not mixed
(i.e., shares in purely halaal ventures). Dr. Muhammad al-‘Usayni (may
Allaah preserve him) included shares in al-Raajihi among his list of
permissible shares.
See:
http://www.halal2.com/main.asp?id=69
This applies if the investment is in the shares of al-Raajihi
itself; as for the al-Raajihi funds that deal with local or Gulf shares,
they are not limited to pure shares; rather they deal with mixed shares, and
the view of the majority of scholars is that it is haraam to deal in mixed
shares.
See the answer to question no.
83969 and
112445.
And Allaah knows best.
Source:
Islam Q&A
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