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What are the specifications of American halal stocks?
Halal stocks do not differ from other stocks listed in the financial market that achieve growth and give shareholders good returns from investment, but they differ in their adherence to some controls that are compatible with the provisions of Islamic Sharia so that all the money gained from them is legally halal. Among these special controls for halal stocks are: follows:
شركات الاسهم الحلال
The company to which the shares belong must be based in its activity on legitimate businesses and not in violation of Islamic law. The company’s scope of work should not be in explicit prohibitions such as trading in alcohol or gambling, and it should not engage in buying and selling debts, and the like.
The company’s financial transactions must not include lending and usury, as usury is an explicit prohibition in Islamic law. If the company is forced to deal with usurious loans, the value of the income resulting from them must not exceed 5% of the company’s total income. If it exceeds that percentage, the company’s shares become mixed and require purification.
American halal stocks are stocks of companies that meet the requirements of Islamic law. These companies should not engage in activities that are considered haram.