Dealing in the stock market
I work in the Egyptian stock market and purchase shares in Egyptian companies that only engage in lawful activities, i.e. Ezz Steel, Oriental Weavers, mobile phone operators etc… Please note that all companies take interest-based loans both from inside and outside Egypt. For instance, mobile phone operators take loans from inside Egypt while others take loans from outside Egypt.
Some companies do not operate anymore because the owners escaped abroad with large amounts of money. [My questions are]:
1. What is the ruling on purchasing and selling shares in the Egyptian Stock Market?
2. What is the ruling on purchasing and selling shares in companies whose owners have escaped abroad?
The stock exchange is only a market for trading securities and commercial
Based on the above, it is permissible to deal in the stock market by purchasing or selling shares in companies which engage in lawful activities. This must be with a view to participating in trade or industry. However, if it is for the purpose of speculation, then it is considered unlawful.
The above answers the question and Allah the Almighty knows best.