• ICP Web

Tesla Stock

Question: As you know TESLA is an electric car maker! The owner recently announced he got into his own Tequila drink. He also has his own SpaceX Rocket and a number of other businesses. Some brothers wondering if buying/selling TSLA stock (is skyrocketing) is halal due to the Tequila drink, which is a very small fraction of his business. https://sfist.com/2020/11/06/elon-musk-hawks-250-dollar-tesla-tequila/ I don’t think the Tequila income will be on the TSLA P&L statement, and if it is, it might be so small compared to billions for TSLA revenue! بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم In the name of Allah, the Most Gracious, the Most Merciful

Answer:

If the income received from the Tequila drink is 5% or less, then it would be permissible to invest in the TSLA stock. Nevertheless, whatever percentage of the income that was from the Tequila drink, that amount must be given away as sadaqah without having an intention of receiving reward. If the percentage of the income received from the Tequila drink or any other haram business exceeds 5%, then it would be prohibited to invest in such a stock.


Before investing in stocks, there are general guidelines/principles to take into consideration. Our Darul Ifta has shed light on this subject, hence you may refer to the following link: https://daruliftabirmingham.co.uk/halal-investments-into-shares/

For more details regarding investing in stocks, you may also study the following books:

https://archive.org/details/IslamAurJadeedMaashiMasailByShaykhMuftiMuhammadTaqiUsmani

https://archive.org/details/IslamAurJadeedMaeeshat-o-tijarat/mode/2up

https://theislamicestablishment.com/29/2595/issue-of-shares


Only Allah knows best

Written by Maulana Mohammad Ahsan Osmani Checked and approved by Mufti Mohammed Tosir Miah Darul Ifta Birmingham

9 views0 comments

Recent Posts

See All

Buying and Selling Stocks

Question: I would like to know about the stock. Is stock buy and sell haram or halal? Is stock capitalism? بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم In the name of Allah, the Most Gracious, the Most Mercifu

Al-Rayyan bank

Question: What is the ruling on using al rayan bank for mortgage? If it is not permissible which route can someone take to owning a home in the uk using halal methods? بِسْمِ اللهِ الرَّحْمنِ الرَّحِ

Insurance for losing court case

Question: An investor had purchased an off-plan apartment. To this end, the investor had paid the deposit to Solicitor Firm X. Solicitor X was only supposed to pay the constructor by installments subj

ADDRESS

920 W PFLUGERVILLE PKWY

PFLUGERVILLE, TX 78660

© 2020 by Islamic Center of Pflugerville