What is the ruling on buying and selling shares in the Islamic Bank?

If this bank is calling
itself “Islamic” in order to deceive people, and it is dealing in riba or
other haraam transactions, then it is not an Islamic bank, and it is not
permissible to buy shares in it, or to buy and sell its shares, because that
is cooperating in doing something haraam. Allaah says (interpretation of the
meaning): 

“Help you one another in
Al‑Birr and At‑Taqwa (virtue, righteousness and piety); but do not help one
another in sin and transgression”

[al-Maa’idah 5:2]

But if this bank is really Islamic, and organizes its
dealings in accordance with the Qur’aan and Sunnah, and does not engage in
haraam transactions, then there is nothing wrong with buying shares in it
and trading in its shares. Rather that should be done, because it will
encourage it and help it to deal with the challenges it faces as a result of
the spread of riba and haraam transactions. 

In the answer to question no.
47651 we have explained the
characteristics of an Islamic bank. 

In Fataawa al-Lajnah al-Daa’imah (13/506) it says: 

If banks are based on
riba and deal in riba, then it is not permissible to buy shares in them,
because this is cooperating in sin and transgression, which Allaah has
forbidden when He said (interpretation of the meaning): 

“but do not help one
another in sin and transgression”

[al-Maa’idah 5:2]. End quote. 

It also says (13/507): 

It is permissible to buy shares in banks that do not deal
with riba, and to take the profits that come from buying shares in the bank,
because this is the result of a transaction that is not haraam and there is
nothing wrong with it, so it is halaal. End quote. 

It also says (13/508): 

Buying shares in banks or companies that deal with riba is
not permitted. If a subscriber wants to get rid of his riba-based shares, he
should sell his shares at the current market value but only take his
capital; the rest should be donated to charity. It is not permissible for
him to take any of the interest of his shares or riba-based profits. But if
the shares are in a company that does not deal with riba, then their profits
are halaal. End quote. 

And Allaah knows best.