They are stocks that the investor can invest in in accordance with Islamic Sharia, such that these stocks are classified as halal, with the presence of some controls and legislation. There are some controls on which stocks are based to be classified as halal, and by relying on these controls it is possible to determine which stocks are halal in trading. Those controls are as follows:
قائمة الشركات النقيةThe company specialized in offering shares must operate legitimate businesses that are not inconsistent with religion.
The company offering shares does not deal in forbidden matters, such as alcohol, buying and selling debts, gambling, or similar activities, which are forbidden activities.
The company must not deal in usury or lending, and if there is some usury in its dealings, the income from it must not exceed 6% of the company’s total income.
The company's debts must not exceed one-third of its assets in the event that this exceedance occurs. Here, it is not permissible to invest in its shares, even if the company operates permissible businesses.
The company's liquidity does not exceed 50% of its holdings.
