Fatwa: # 22365
Category: Financial Transactions
Country: India
Date: 16th September 2012

Title

Question on Purchasing Shares

Question

Mufti sahib,

 

My company has provided free 10 shares to everyone living in India.

This share was for the locked period of 1 year (2011-2012).I don’t have any knowledge about the shares.

My friend applied to sell this share after the end of this locked period because after some days we cannot sell our shares. So, I got some amount from that in my salary. These shares were actually given instead of bonus for us by the company (that is what I heard by most of my colleagues).

 

I work in a multinational company where there is call centers, applications etc.But I work for non voice in the field of press and media.

I don’t know where the share money has gone for the use. Our companies (Only India) most of the profit is earned from Applications & technical supports. Technical support for banks computer. I want to know if I can utilize that shares money or not.

If not what can I do from that, any alternative way. Some said I can use and some said I cannot. Please help.

 

Note: I personally had not applied nor I wanted to because of haraam and halaal means. I got it free directly by the company instead of giving bonus to us.

 

For reference below is my company’s link

http://www.mphasis.com/about-us/

 

Please answer this as I have been trying for many months

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

In view of the differences of opinions among the contemporary Ulama on the issue of shares, there is a leeway for you to accept the shares and it’s proceeds.

Checked and Approved by,
Mufti Ebrahim Desai.

 

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