Are Cryptocurrency and Stock Investments Halal?

Answers are more useful when you can see the working, so the evidence is set out below.

The evidence

For equities, the standard screens exclude companies whose primary business is prohibited, and set thresholds on interest-bearing debt and income, with purification of any incidental impermissible income.

Those permitting cryptocurrency treat it as a form of property (mal) with recognised value; those prohibiting it cite excessive gharar, lack of intrinsic backing, and its use in speculation.

Both sides distinguish investment from leveraged speculation and derivatives, which raise separate and more serious objections.

In practice

• Use a recognised shariah screening service rather than assessing companies yourself.
• Purify incidental impermissible income by giving it away without expecting reward for it.
• Avoid margin trading, short selling and options regardless of your position on the underlying asset.

None of this is complicated. The difficulty is entirely in the doing, and the doing starts with one repetition today.

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