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Contradiction In Trading Stocks
Assalam Alikum.
I hope this message finds you well. I would greatly appreciate a detailed response to my query regarding trading stocks. I often encounter contradictory fatwas about certain stocks being categorized as halal or haram. Currently, I base my decisions on the primary product or service of the company. For example, Intel produces chips, but it may have debts that incur interest or earn interest from funds held in banks or other entities.
As far as I understand, no business in the United States operates entirely without debts or without earning interest. I am concerned that many opportunities have been deemed haram in the past, only to later be considered halal, leaving us at a loss.
To clarify, I do not invest in stocks of companies whose main products are explicitly haram, such as those involved in gambling, betting, or alcohol production. However, I seek a clear answer backed by evidence from the Quran or Hadith, rather than assumptions or interpretations from scholars. While I respect scholars, I feel that some of their rulings have caused long-lasting confusion and challenges as well as holistically long-lasting losses and damages.
Thank you for your time and understanding. I look forward to your guidance. Jazakallah Khairan
Kind regards,
Mohammad
USA
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