buying in the markets #HUDATV

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In this video, Shaykh Dr. Yasir Qadhi covers the fundamental principles of Zakat pt.2 (401K, Mutual Funds & Stocks)

Watch the full video to learn about these topics and much more.

Presentation details: May 12, 2019 @ Memphis Islamic Center

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15 Antworten auf „buying in the markets #HUDATV“

  1. As salam aleykoum brothers and sisters!

    Nothing is legal in the Stock Exchange, all is Haram! Whether it's for trading or investment.

    There are different methods of intervening in the financial markets, I'll explain that to you.

    In fact, there is no Islamic trading, because the brokers who offer Islamic trader accounts, tell you that there is no swap (usurious interest) on each open position, except they lie to you because there are administrative fees that are charged on your account for your open and closed positions. These administrative fees are Haram since they are fees like interest, which is illegal in Islam, do not fall into the trap.

    1 – "Scalping" consists of opening and then closing a position in a short period of time in order to take advantage of small market movements. That is to say a few seconds, or minutes so it is speculation = Haram.

    2 – "Day trading" consists in closing all positions before the markets close, i.e. closing their positions at the end of each day in order to reopen new ones the next day. This avoids paying SWAPs (fees = commissions = usurious interest). But in reality, you don't know if the position will rise or fall during the day, this is random and also speculation so it's Haram.

    3 – "Swing trading" consists of opening a position over several days, some swing trades can even exceed a week or even months, like several years. The concern is that you pay swaps every day until the position is closed. So it's also Haram.

    And the interesting thing is that brokers offer you to open Islamic accounts without swaps, but they ask you to pay an administration fee on each position in your account. And this administrative fee is interest, like the various fees or commissions.

    You are now warned about this, do not invest your money in the stock market, because usurious interest is a great sin in Islam, but also in other religions, people have no knowledge about the stock market and commit themselves without knowing, it is a risky and dangerous game. In the future, informed you about finance, it's a disgusting world if you knew so much about what goes on behind the scenes of finance, you would change your profession.

    There are still other methods, but they are also illegal (Haram).

    Sura 51; verse 55 "And call to mind, for calling to mind benefits the believers".

    Sura 2; verse 275 "Those who eat [practice] usurious interest stand (on Judgment Day) only as he whom Satan's touch has overthrown stands (on Judgment Day). This is because they say, "Commerce is just like interest."But Allah has made trade legal, and usurious interest illegal. He that ceases, then, as soon as an admonition from his Lord comes to him, he can keep what he has earned before; and his business is in the hands of Allah. But whoever repeats (the same thing), there they are, the People of the Fire! They will abide therein for ever.


  2. assalaam mu alaikum sir my question is if a company is having a loan n that company is not running any haraam bussiness so we can invest in that company

  3. 401 k is investing in stocks and bonds which increases through compound interest. Which part of this is halal?!! These self elected Islamic scholars need to first learn how 401k works. Compound interest is absolutely haram.

  4. 401k money is usually filthy due to the the nature of its incremental process. Usually, the money gets invested into stocks (which you may not know, could be haram could be halal), bonds and other financial sectors and you make a profit on that. So, why would anyone pay zakah on 401k when it contains haram money. Also, if we must pay zakah on 401k, doesn’t that make 401k halal for us? Personally,I have always considered 401k to be not halal.

    Please clarify.

  5. In one of your previous lecture you mentioned that one need not to pay zakat for long term mutual fund untill I sell it and get the money in my account, but now your opinion seems to be changed. lets suppose i buy stocks, i hold it for 5 years, i paied zakat for all these 5 years, and at last, if the company bancurrupts, i will not get anything finally but I paid zakat for all these 5 years. please clarify

  6. Q. Would Allah still punish us for Ribah/interest even though the whole world is engulfed in it? Islam and Money Written by Imran Nazar Hosein

    A. Allah will hold you to account for that Riba which you can avoid even if you had to flee to the mountains sides where rain falls and take with you some sheep and goats. Source Link:

    Imran Hosein – The Prohibition of Riba (Interest) [FULL] RIBA OR USURY OR INTERSET is the poison which has paralysed the ummah of The Prophet

  7. JazakAllah Khair for sharing your knowledge.
    In my opinion as a lay American Muslim (I am not a scholar), the Fiqh Council has made a fatwa regarding Zakah which is more difficult than need be, specifically regarding the 401k. They have concluded that 401K IS zakatable and the calculation should be done after taxes and fees are removed from the entire 401K balance.
    I believe this Fatwa does not address several points:
    Similar to the moonsiting issue, this issue should be considered within the context of American Muslim life. Given the high costs that incur retirement, mostly related to medical and living expenses, it is incumbent on every American (not just Muslims) to prepare for retirement responsibly so they are not dependent on family, zakah or any other social security benefit which may or may not exist when they retire. For that reason, I believe this fatwa PUTS AN UNDUE BURDEN ON AMERICAN MUSLIMS AND DISINCENTIVIZES MUSLIMS FROM SAVING FOR RETIREMENT.
    How? First, you are now asking Muslim Americans every year to take their entire 401K balance and “liquidate” it as a paper exercise. It is common sense that one should NEVER take money of retirement early, unless of an emergency. I believe for many Muslims who do this, they will be much more likely to pull the money out and spend it, just by doing this calculation year in and year out and viewing it as another cash account rather than an crucial asset for financial stability later in life.
    Furthermore, Muslims may decide not to take advantage of the 401K because they will now feel they will have to pay zakat on it anyway and may not want the additional hassle of calculating the zakat in this complex way. This will lead to higher tax spend and less money saved for retirement when they need it the most.
    Additionally, one’s 401K account and home make the 2 largest asset classes for the majority Americans, and therefore it doesn’t make sense to classify the 401K as an excess wealth.
    Fiqh council should view 401K as a future income and NOT as excess wealth. Consider someone who receives a pension benefit from an employer. That employer must set aside funds in order to pay out the pension to the employee at the time retirement, however, the employee does not pay zakat on these (set aside) funds, yet enjoys the benefit of that income later in life. Similarly the US government funds social security, however, no one pays zakat on those funds until they are disbursed (though we fund it through taxes). Similarly, 401K is like a personal pension or social security, the vast majority of people use it pay bills when they no longer work and have no main source of income, to ask Muslim Americans to pay 1-2% each year from this account is burdensome and can really reduce quality of life later in life for that person.
    Finally, please consider this in the context of Dawa. Consider the new Muslim or the non-Muslim who’s heart is open to Islam and telling them that now you must pay on your 401K. The concept of working and saving for retirement is so ingrained into the American worker that I fear this fatwa may turn people away who may otherwise embrace Islam.

  8. Why are long term mutual funds being treated differently from a 401(k), which is also a long-term investment? What about rollover 401(k)s that allow you to invest in different baskets, some of these include mutual funds and/or individual stocks. Further, when you invest your roll over 401(k) into individual stocks, that is your ownership in major corporations. Shouldn’t your investment be treated like any other investment in a business (small or big); thus, obligating you to pay zakat only on corporation’s inventory/merchandise (based on your investment in the corporation)? And what is tangible mutual fund?

  9. Is mortgage on the house halal? Would the income be haram because we are involved in usury?

    Also, if we are two dependents in the same house and I have separate gold and my mother has separate gold in the house, shall we consider the combined as the nisaab or shall we calculate separately?

  10. Salam, could you please share the nisaab for gold and silver? 2.5 of how much is considered as applicable?

    And if the zakaat is applicable and its been more than 1 yr, shall we calculate for the entire term?

    For clarity, shall we calculate the tenure from the day the property or assets get to the nishaab point?

    JazakAllah e khiaran!!

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