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Fatwa CenterIslamic Market Dow Jones Index
Question
assalam3alaykum: most companies, whose products are halal, in USA put their money in banks with interest. is it halal if i trade in stocks in the list of Islamic Market Dow Jones Index? Shokran
Answer
All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.
Issuing a ruling about dealing with a list of Islamic Market Dow Jones Index requires knowing all the transactions of companies which are incorporated in it, and knowing their system and laws and whether or not they deal with Ribaa (interest and usury); this is something which we are unable to know.
Anyway, we say that if these companies have lawful activities and do not deal with Ribaa, then it is permissible to trade in their stocks, otherwise it will be forbidden, as trading in them is participating in committing what is forbidden.
For more benefit, please refer to Fataawa 82105 and 92032.
Allaah Knows best.
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