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October 1, 2014 | Dhul-Hijjah 7, 1435
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IslamiCity > Business & Finance > IC Finance > Stocks 
 Welcome to IC Finance Information & Services

 O ye who believe! Devour not usury, doubled and multiplied; but fear Allah.
that ye may (really) prosper. Qur'an 3:130 (Arabic) - Recite  


Stocks


By owning a company's stock, you own a piece of a business as a silent partner (you do not participate in the day-to-day running of the business).

Investment in individual stocks means that you choose the companies you buy pieces of yourself (with the help of advice from the internet, TV programs, Newspaper articles, word of mouth from friends, ...etc.)

This is different from Mutual Funds, where the Fund Manager controls which companies to buy, in return for a percentage of the total value of the fund.

Historically, the best investment vehicle are stocks, since they provide the highest rate of return on investment for the long run.

Islamic analysis of the Dow Jones companies

You can read an Islamic analysis of the Dow Jones (DJIA) companies. Check it out and let us know what you think.

Islamic analysis of USA Industries

You can also read an Islamic analysis of the USA Industry classification. In the USA, each publically trading company is classified within an industry. This will help you screen companies quickly and exclude those that engage in prohibited activities.

Dow Jones Islamic Market Index - DJIM

Due to the growth of demand for Islamic investment, and market indexes tracking the Islamic portion of the market, Dow Jones, the well known financial research company, has invented the Dow Jones Islamic Market Index complete with an Islamic Scholars Advisory Board with well known Scholars.

Before you buy a stock in a company you like, check the DJIM Companies list, which is sorted by the company name.

Speculation on Stocks - Is it Islamically Correct?

A common question that Muslim investors have these days is: "Is it Islamically acceptable to engage in stock market speculation?". This topic has been discussed at some length on the Islamic Finance Network web site, Speculation Forum.
Bear in mind that these are individual opinions by people like you and me, and not scholarly studies, although some very useful references to scholar's opinions are stated. So, use your judgement.

The International Investor - TII

This is a Kuwait based company offering investment services and the like. They have a London based advisor, The International Investor Advisory Group - TIIAG, which publishes several Islamic Indexes, including the following:

Zakat (Alms/Charity) on Stocks

On the Islam-Online web site, Dr. Yusuf Al Qaradawi has a fatwa on How to pay Zakat on Stocks?, in Arabic. He stated the same opinion on the televised program "Al Sahia Wa Al Hayat" on Al Jazira Satellite channel on Sunday 2 January 2000, making a distinction between "investing" and "trading", whereas the latter treats his stocks as liquid cash money, paying 2.5%, while investors pay only on their gains/appreciation, but at a rate of 10% (by analogy of gains from agricultural land with no human irrigation [rain]).

Here are other sources of information on paying Zakat on Stocks:

Stock Information, Quotes, Analysis and Research

There are hundreds of internet sites where you can get stock information.
We take a look at some of the most popular ones here.

Site Comments
Quicken Investment One of the most comprehensive sites offering many features, including Screen Stocks, Find Top Funds, IdeaCenter, Community Favorites and Basics.
Yahoo Finance Lots of features, including the Yahoo Stock Screener
Smart Money Also one of the well organized comprehensive sites offering investment advice, information and tools.
Motley Fool A similar site is the which also offers very good tutorials on how to invest.
CNBC A comprehensive site with all the standard features.
CNNfn Another well respected site for investors, with all the standrad features.
Free Real Time Another free site providing Real Time quotes is , but it requires registration (still free though).

 

Investment Tools

There are many free tools that will help you with your investing, starting from selecting and screening stocks, to monitoring your protfolio and watching the markets.
Here are some very useful tools that you can use...

Site Description
Quicken Stock Screening Here is a very powerful tool where you can give it your criteria and it comes back with a set of companies that match those criteria
CNBC Stock Screener Another very powerful tool for stock selection.
SmartMoney Tools Many tools from SmarMoney again, including Your Portfolio, Map of the Market, Your Calendar, Economy Watch, Asset Allocator, Broker Meter, Dow Tracker, Sector Tracker, Chart Center, Watchlist, News Ticker, Stock Snapshots, and more.
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