Asked in Halal and Haram
Halal and Haram

Is gold trading online halal?

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Wiki User
05/02/2011

Trading in equity markets is permitted under Shariah law. Stocks that are Shariah compliant are allowed to be traded. Islamic scholars over a period of time have laid down certain parameters for investing in the Stock of any company in the Equity Markets based on its Activities & Line of Business and the Financial Ratios of that Company. Stocks which fulfill these parameters are compliant in 'Shariah' to be invested in by the Muslims. A Muslim cannot invest in the Stocks of the Companies having High Degree of Interest Income or High Debt and/or those involved in the business of Banking, Life Insurance, Alcohol, Tobacco, Gambling, Non-Halal Meat, Music, Cinema, and/or Pornography. Muslims in India are compromising their religious beliefs. Those Muslims who aspire to invest in accordance with Islamic Principles unfortunately the Investment Products and Services in India are invariably incompatible with Shari'ah principles. Investments in Precious Metals (Gold, Silver, Platinum) are permitted in Islam.