Sharia compliant trading platform

[Muhamed Aadil]

Hi shahidkhan,
Welcome to T2W.
I confess I've no idea what constitutes "sharia compliant stocks" but, if you're able to identify them, could you not load them into a watchlist (e.g. an Excel spreadsheet) so that you only trade those stocks? This would enable you to use the platform / broker / software of your choice and not be restricted to the company you mention? I realise fully that this is an obvious suggestion and one which, probably, you've thought of already. So, I apologise in advance if it's got some blindingly obvious flaw that I've somehow managed to overlook!

Tim.

Umex trader is the only international trader in Sharia compliant stocks and you might find individual companies that offer trading platforms as well, the General Sharia Acceptance is that if there is an Independant Sharia Board and External Auditors as well as in internal Sharia Board and a regular Sharia Screening process that takes place on listed companies and all the different point of views regarding the different schools of thaught within the Islamic Sharia that have been excepted and restrictions that are adhered to then and even then then one should tread cautiously and never be intimidated by the amount of money that could be made and continue to return to the laws of the Quraan and the teachings of the Prophet Muhamed SAW,with regards to trading and investing. No Interest Should be involved in the actual traders account and even paid, as the companies that are traded have already got interest.

This is just a personal view and my best advise would be to conduct your own research and engage in active participation with your local Ulamaa.

 

[Mr. Charts]

OK

Is it against Sharia to accept bribes?

 

[Atilla]

Umex trader is the only international trader in Sharia compliant stocks and you might find individual companies that offer trading platforms as well, the General Sharia Acceptance is that if there is an Independant Sharia Board and External Auditors as well as in internal Sharia Board and a regular Sharia Screening process that takes place on listed companies and all the different point of views regarding the different schools of thaught within the Islamic Sharia that have been excepted and restrictions that are adhered to then and even then then one should tread cautiously and never be intimidated by the amount of money that could be made and continue to return to the laws of the Quraan and the teachings of the Prophet Muhamed SAW,with regards to trading and investing. No Interest Should be involved in the actual traders account and even paid, as the companies that are traded have already got interest.

This is just a personal view and my best advise would be to conduct your own research and engage in active participation with your local Ulamaa.

Are you an expert in Sharia laws - or is this a cut and paste jobby?

Do you understand anything of this nonsense you have written. I assume there are volumes of words behind these bold meaningless statements.

Tell me what work you will do for the money you will receive in return for your investment. What will be your contribution to making the cake?

That is what physical work will you do - what will you produce?

You say no interest to be received. If the money you make on your investment over a period of time isn't interest. What is it?

There is nothing wrong with interest! Pure economics...

 

[Atilla]

OK

Is it against Sharia to accept bribes?

No one offers money for nothing. There is always some return or exchange for the bribe.

Bribes could be perceived as market correction.


PS. I don't endorse bribes as they also complicate transaction process.


All depends on the theory of relativity... :cheesy:

 

[Muhamed Aadil]

OK

Is it against Sharia to accept bribes?

By definition, You mean that one person receives something from another person in order to perform an action that is illegal according to the law of the country yes. If it is against the law of the Sharia and not the country then that issue needs to be addressed with your Local Ulamaa

 

[Mr. Charts]

OK

So if an observant Muslim lives in a country where bribes are acceptable and legal it might be ok to accept or give a bribe?

 

[Jack o'Clubs]

If it's legal, then it's not a bribe, it's a gift, a tip or a commission. In Arabic cultures bakshish is more comparable to a tip for a service provided than a bribe. That you give the tip before the service is offered rather than after, as in the West, is just a vagary of the local culture.

 

[Muhamed Aadil]

OK

So if an observant Muslim lives in a country where bribes are acceptable and legal it might be ok to accept or give a bribe?

Like I said, in the initial reply that it is best that you consult your local Ulamaa and request assisttance, do not just take heresay and accepted cultures as allowable in Islam. Even though an action is legal in acountry it still might be contrary to the Sharia. Ultimately as a Muslim we answere only to Allah.

My personal advice would be as said before consult with your local Ulamaa and thereafter educate yourself further with the laws of Islam ie: Quraan and Ahadith of the Prophet SAW,and consult yourself, ask Allah for guidance always, then make a decision.

Alternatively associate yourself with an Aalim or Mufti, with regards to the laws of Islam and stick to the advices and guidances you, do not deviate and jump from Aalim to Aalim or Mufti to Mufti looking for an answere that you like just to satisfy your Nafs.

Allah knows best,this is typed on my own accord and I am not a Jurist in Islami Law

 

[gamma]

Like I said, in the initial reply that it is best that you consult your local Ulamaa and request assisttance, do not just take heresay and accepted cultures as allowable in Islam. Even though an action is legal in acountry it still might be contrary to the Sharia. Ultimately as a Muslim we answere only to Allah.

My personal advice would be as said before consult with your local Ulamaa and thereafter educate yourself further with the laws of Islam ie: Quraan and Ahadith of the Prophet SAW,and consult yourself, ask Allah for guidance always, then make a decision.

Alternatively associate yourself with an Aalim or Mufti, with regards to the laws of Islam and stick to the advices and guidances you, do not deviate and jump from Aalim to Aalim or Mufti to Mufti looking for an answere that you like just to satisfy your Nafs.

Allah knows best,this is typed on my own accord and I am not a Jurist in Islami Law

So there you have it!
Don't consult your lawyer who might be an expert in European law (i.e where you live) and the laws of you European country.
Go to your local Ulamaa who probably originates from some village in Bangladesh and can't speak english, because as long as you are a muslim it does not matter if you break European law!

 

[Atilla]

So there you have it!
Don't consult your lawyer who might be an expert in European law (i.e where you live) and the laws of you European country.
Go to your local Ulamaa who probably originates from some village in Bangladesh and can't speak english, because as long as you are a muslim it does not matter if you break European law!

Point well made.

Sharia seems to be the new brand. Stick it on anything and it'll sell...

This begs the question why would a muslim leave their own Sharia compliant country to live in another country of the infidel to which they pour scorn and self righteousness?

Smacks of selling their souls for money but I'm sure someone somewhere can justify it...

 

[Mr. Charts]

gamma's and Atilla's posts are precisely correct.
If I lived in Saudi I would not break Saudi laws out of respect even if I thought them morally wrong.
If someone else doesn't like our laws, simply go somewhere you are happier.
If you are in this country legally, then for me you are welcome as long as you obey our laws and you can follow your own religion as long as it doesn't harm others.
It's called toleration and cuts both ways.
Richard

 

[Mornington Crescent]

"I am not a Jurist in Islami Law "

3 posts , and all on this thread
and that was his last not his first
says it all really

it used to be called "passing off"

perhaps that is also 'legal'

 

[squall321]

islam is a curse sent by god to fulfill what he said about ishmael

“You are now pregnant
and you will give birth to a son.
You shall name him Ishmael,
for the LORD has heard of your misery.
He will be a wild donkey of a man;
his hand will be against everyone
and everyone’s hand against him,
and he will live in hostility
toward all his brothers.”

 

[tar]

Like I said, in the initial reply that it is best that you consult your local Ulamaa and request assisttance, do not just take heresay and accepted cultures as allowable in Islam. Even though an action is legal in acountry it still might be contrary to the Sharia. Ultimately as a Muslim we answere only to Allah.

My personal advice would be as said before consult with your local Ulamaa and thereafter educate yourself further with the laws of Islam ie: Quraan and Ahadith of the Prophet SAW,and consult yourself, ask Allah for guidance always, then make a decision.

Alternatively associate yourself with an Aalim or Mufti, with regards to the laws of Islam and stick to the advices and guidances you, do not deviate and jump from Aalim to Aalim or Mufti to Mufti looking for an answere that you like just to satisfy your Nafs.

Allah knows best,this is typed on my own accord and I am not a Jurist in Islami Law

+10000000000

As a muslim i follow sharia law and i should to ,but of course this doesnt mean i will break the law of the UK for example , i put sharia first and simply if i live in the UK and there is a conflict between sharia and "UK law" i leave and go elsewhere .

 

[Mornington Crescent]

sorry tar

they are not "rules"
they are the law

 

[tar]

sorry tar

they are not "rules"
they are the law

No need to say sorry i just edited my post ...

 

[gamma]

+10000000000

As a muslim i follow sharia law and i should to ,but of course this doesnt mean i will break the law of the UK for example , i put sharia first and simply if i live in the UK and there is a conflict between sharia and "UK law" i leave and go elsewhere .

Yes!
It would be nice if if all the those poppy burning *******s though the same way

But won't happen as there are no free benefits in Pakistan or Bangladesh

 

[Mr. Charts]

...and the poppy burning scumbag who got prosecuted was fined £50 paid for by Social Security !
In other words, us !

 

[arabianights]

The big problem with that **** is that it's the logical culmination of a load of reasonable sounding rules

(should there be freedom of expression? should there be a benefit safety net? should people of any race or culture be permitted citizenship?)

the resolution of that paradox is left to the reader

 

[amit1986]

Like I said, in the initial reply that it is best that you consult your local Ulamaa and request assisttance

I have a feeling, a mere suspicion perhaps, that he simply doesn't care enough to bother finding his local Ulamaa