Insurance is riba which is haraam. It is therefore haraam to purchase shares in an insurance company. Dealing in shares in public companies and on the stock exchange are likewise haraam.
While currency sales are permissible, it is necessary for both parties to take possession at the same time. Since this essential condition is not observed in internet buying and selling, such sales are not permissible.
muhammad sulaymaan tshabangu
it is permisseble for muslims to trade through inter net buying uros and dollar(FANANCIKA)?
2 February 2016Majlisul Ulama
ASSALAMU ALAIKUM
Muhammad Sulaymaan Ishabangu
While currency sales are permissible, it is necessary for both parties to take possession at the same time. Since this essential condition is not observed in internet buying and selling, such sales are not permissible.
Was-salaam
4 February 2016A.S.Desai
For Mujlisul Ulama of S.A.