Insurance and investment



I read this hadith online:
Abu Huraurah (radi Allahu anhu) narrated, “The Messenger of Allah (sal Allahu alaihi wa sallam) prohibited sales of ‘ whatever a pebble thrown by the seller hits,’ and sales in which there is chance or risk (gharar).” (Sahih Muslim)

Gharar is chance or risk, meaning it is not known whether it will come to be or not, such as selling fish in the water or birds on the wing. It includes transactions of unknown things, the particulars of which are not fully comprehended by the buyer and seller.” (Reliance of the Traveller by Ahmad ibn Naqib Al-misri)

Also are shares halal? Should I just buy gold now?


Wa Alaykum Salam,

If the article is certain to be delivered at a future date the prohibition of gharar does not apply.

It is OK to buy gold.

Imam Senad Agic
American Islamic Center – Chicago
Majlis #1 Head Imam (IABNA)

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