[Stock market and day trading]

Fatawa Question

As-Salam `Alaykum ! In real estate, especially land, some people give advance for the land and search for another buyer means without buying a land, just give advance then find another person and tell bigger price and take profit out of this deal. Is this type of trading Halal ? In stock market, just buy big quantities of shares and sell those shares after 5 minutes, trade like this so many times, some profit and some loss, out so many trades. Is it similar to gambling ? Just buy and sell company shares on assumption basis ? Some cases order for huge number of IPO shares to take profit out of listing day. Please explain in detail.

Fatwa

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Publication Date

2008-04-20

Main Subjects

Economics & Business Administration
Islamic Studies

Topics

• Islamic jurisprudence
• Contracts
• Investments
• Financial markets
• Purchasing
• Stocks
• Speculation
• Provisions of sharia
• Land
• Business
• Real property
• Usury

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-732551

• APA
• MLA
• AMA