Q 1: We read in the newspapers on a daily basis about the establishment of joint-stock companies in different fields, such as agriculture, industry, and investment banking, but we do not know the ruling on subscribing in these companies as they deposit their money in the banks that deal with Riba (usury/interest) in the country. What is
the ruling on subscribing in investment banking companies,
such as Al- Rajihi Investment Bank, which will soon offer its shares for public subscription? I heard some people say that this prospective company plays the same role as that banks that give interest and interest-bearing loans.
A:
It is Haram (prohibited) to subscribe in any company that is confirmed to be dealing in Riba, either by accepting or paying it, (Part No. 14; Page No. 315) as it falls under helping one another in sin and transgression. Allah (Exalted be He) says:
Help you one another in Al-Birr and At-Taqwâ (virtue, righteousness and piety); but do not help one another in sin and transgression. And fear Allâh. Verily, Allâh is Severe in punishment.
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
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