I'm a dentist working for a large dental corporate. They do offer stocks in that dental corporate worth $250000. Also they do finance that amount of money through their bank to facilities buying these stocks.
It will be a loan for 10 years with % 6.5 interest rate.
By owning the stocks will be getting a monthly bonus from the dental office production that varies each month.
That monthly bonus will be paying off the loan. So i won't be paying out of my pocket. Until completely the loan is paid
Jazakom allah kheer wanted to know if it's halal or not?
Assalam u Alaikum Wa Rahmatullah
If financing for purchasing stocks is provided at the cost of 6.5% interest rate or any rate other than 0.0% then it would not be allowed because this finance charge is considered interest and it is forbidden in Islam.
And Allah knows best.
Mufti Ikram ul Haq
Fatwa Center of America