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Frequently Asked Questions

There are broadly five key criteria that a company must pass in order to be considered a sharia-compliant halal investment. These are screening criteria according to Prominent Ulema Kiram from Asian continent including Darul Uloom Deoband, which must be met in order for a company’s shares to be a halal Islamic investment.

As we are a community of stock traders and investors, things which always pop into our mind are that is there any tax payable on our stock market transactions, is it necessary to show them in our income tax return, what is capital gain, what about losses?

As we know, the Shariah Status of any Stock is Dynamic & it is not permanent. It Changes Every Year based on various factors like Debt, Assets, Income, etc. We have discussed with our Shariah Team & concluded to take Annual Report as the base.

In almost all contemporary Islamic Finance structures and products, a fair amount of attention is given to how assets are being possessed, transferred and how the associated risks are being allocated. Similarly, retail investments are critically examined and screened to understand whether an investor has possession of the underlying asset. The condition and requirement of possession has come directly from the Prophet Muhammad (PBUH).

Most of them will tell you I don’t have 7.5 Tola of Gold mentioned in Hadith, so I don’t need to think about paying zakat. This is widely known and spoken in our society and at somehow it is wrong.

The process of removing impure income from the total income received from an investment is known as purging/purification. It is one of the important requirements to make an investment fully Sharia-compliant. Purging can be done either to remove only interest income or to remove all types of impure income arising out of Sharia non-compliant Investments or business sources

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