July 19, 2024 11:53 PM EDT
Ruling on Sipchem shares
Muslim scholars have permitted the idea of investing in company shares according to the nature of the basic activity of each company. If the activity is permissible and is not tainted by any Sharia violations, then investing in the company’s shares is permissible as a result of them being pure shares. However, if the company’s activity is permissible but it is mixed with some bank funds and usurious interest, then In this case, the stock becomes mixed, and the most likely opinion is that it is not permissible to invest in it, but some scholars have permitted investment in mixed stocks on the condition that a percentage of the profits be taken out and spent in charitable organizations for the purpose of purifying the profits from the forbidden percentage.
حكم سهم سبكيم
Therefore, this ruling applies to the ruling on Sipchem shares, as it is considered a mixed stock. When Sipchem shares were offered on the Saudi Stock Exchange for the first time, Sipchem shares were pure because the company was not yet dealing in loans and usurious interests, but over the years, the company’s financial statements included some loans and funds. usurious interest, and thus it became a mixed stock. In order for investment in Sipchem stock to become permissible, the percentage of forbidden interest in the share’s profits must be eliminated, despite the fact that Sipchem’s activity does not conflict with the provisions of Sharia law because it works in the field of chemical industries, and therefore it is prudent to avoid investing in this. stock or clear its earnings.
