Sharia law allows stock trades—jihadists rejoice

via Money Jihad

Investing in the stock market is considered halal by most Muslims because the stockholder theoretically owns a portion of the company, and the dividends or increase in stock price are genuine “profits,” not riba.

Stock market activity is probably even more acceptable when conducted to benefit jihad, because those who strive with their wealth for jihad are rewarded doubly by Allah according to the Hadith.

So the terrorists are at liberty to put their money into the stock market, as they have been doing in India.  From the Press Trust of India on Dec. 16:

10 cases of terror funding via stock market in last 3 yrs

The Financial Intelligence Unit (FIU) of the Finance Ministry has received information on 10 suspected instances of terrorist financing using the stock exchanges in the last three financial years, Parliament was informed today.

The FIU received five Suspicious Transaction Reports (STRs) during the 2009-10 financial year, four during 2010-11 and a single case in the current fiscal (up to November), Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.

The STRs, “suspected to be linked to terrorist financing, (have been) received from intermediaries of stock market such as stockbrokers, asset management companies, etc, and disseminated to intelligence agencies by the FIU,” Meena said.

Namo Narain Meena

Image via Wikipedia

He also said the STRs have been linked to money laundering. These cases will be investigated by the intelligence agencies, he said.

The FIU, is the national agency responsible for receiving, analysing and disseminating information related to suspect financial transactions.

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