Question Summary:
Is share trading in Stock Exchange halal or permitted by Islam?

Question Detail:

Is share trading in Stock Exchange halal or permitted by Islam?

Answer :

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatuh
 
After an extensive research, the Dārul Iftā’ has concluded that it is impermissible to purchase shares in the stock exchange.  For further details, please refer to the links below:
 
1.       Debate on shares.pdf ( http://www.al-inaam.com/debate_on_shares.pdf )
2.       Shares Appendix A.pdf (http://www.al-inaam.com/Shares_appendix_A.pdf )
3.       Shares Appendix B.pdf (http://www.al-inaam.com/Shares_appendix_B.pdf )
4.       Shares Appendix C.pdf (http://www.al-inaam.com/Shares_appendix_C.pdf )
 
And Allah knows best
Wassalamu Alaikum
Ml. Abrar Mirza,
Student Darul Iftaa
Checked and Approved by:
Mufti Ebrahim Desai
Darul Iftaa, Madrassah In'aamiyyah