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Are Some Stocks Forbidden in Islam and How Can I Identify Halal Stocks to Invest In?
Investing in stocks is basically becoming a "part-owner" of a business. To keep it Halal, we look at two things: The Business: If the company makes money from gambling, alcohol, interest-based banking, or adult entertainment, it’s a NO. The Money: Even if they sell "clean" things like phones or cemeRead more
Investing in stocks is basically becoming a “part-owner” of a business. To keep it Halal, we look at two things:
The Business: If the company makes money from gambling, alcohol, interest-based banking, or adult entertainment, it’s a NO.
The Money: Even if they sell “clean” things like phones or cement, they can’t have too much interest-based debt (the limit is usually 33%).
Simple Tip: Download an app like Zoya or Musaffa. You just type the stock name, and it tells you “Halal” or “Not Halal” instantly!
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