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Salam Everyone While this has been asked before, atleast partially, I still think the issue remains hazy.. So here goes (these are all related questions, I just put them all here so that we have a discussion framework) 1) Is stock investment allowed? (Not rampant trading where speculation rules, but sober investment in shares for the sake of dividends as a side income, with only occasional trading) 2) If investing in certain companies is not allowed (e.g. those partaking in alcohol/gambling/ etc) then does this automatically rule out Index Funds, since they can basically invest anywhere? (maybe they dont, I am not sure, but thats how I understand they work- by diversifying the investment to minimize risk) 3) What about bonds? Some say they are better because they don't have the speculative part; others say they are worse because they are interest-based 4) What about cryptocurrency? I feel its problematic since its highly speculative (one Musk tweet and it plummets :p) Also, is there any book which details all of these issues and also recommends the best mode for investing Islamically? (Maybe on al-islam.org for example) Thank you all

I wanted to make a post about this, I did a lot of research on this sector and decided to invest into it a few month ago, now before you grab your pitchforks, here me out. I invested my money saved up from part-time work during university into blue chip stocks (Canadians banks, Google, Amazon, Apple), cashed it out upon graduation, worked a year and invested some savings into medicinal marijuana companies. Upon days of research and following the markets I made a HUGE return. ( Huge figure is HUGE from a recent grad standpoint, not a professional dad of 3 standpoint - relatively speaking; 'na mean?) I discussed with family and they went 'HOW DARE YOU INVEST IN THIS' type-a-deal; so posting it here for perspective. I am all into Finance as per my recent graduation and work, so the financial markets are really interesting to me. Now it is quite clear that if you put your money in a checking account, it is essentially quite bad due to the basic time value of money principal. You should beat inflation and secure your retirement, we don't earn millions to have a decent life, so it is important to invest. People invest in stock/bond exchanges all around the world, even in Muslim countries, it is what drives any economy forward. Stocks drives the economy forward in numerous ways, you along with your government is happy from it via direct and indirect means. Bonds are what helps the government finance their cities, infrastructure, schools and what not. So if you invest, you help greatly to not only your situation but also the greater society. Now question comes, what must you invest in to be fine from an ethical and religious stand point? Lets take the popular industry stocks for now that we see big trends around the world: 1) Banks - Good ol' financials, stable dividend paying companies, they do a lot of good to the people (financing your education, house, car, business, mosque), good to the society, and the government. However, disadvantage is they do some back-hand deals to protect themselves at the expense of lay-people like we saw in 2008. It is debatable but again, they were involved along with credit rating agencies and all that jazz. 2) Resources: Oil, Gold, Lithium and other resources you see on the periodic table: Now oil 'the black gold' drives several Muslim countries forward, gold is what makes the sisters happy, useful in making many, many things along with gases and lithium. Basically what you learn in organic and inorganic chemistry 101. A lot of positive things here. Cons are that they absolutely destroy animal/marine lives, habitats, irreversible ecosystem damage, pollution among other destructive things. 3) Popular stocks like Google, Apple, Tesla, Ford ..etc - all of the major companies are responsible for exploiting under-developed countries, making them work in sweat shops etc. On the benefit side, I could write a novel, I am sure we all can. So what we have established so far is that every high-volume industry has numerous advantage and disadvantages; they all play a huge part in Muslim and non-Muslim countries attracting investors of every background. 4) So investing in medicinal marijuana should be good, or even encouraged. Now hear me out: It has several strains and the academic scholarly studies conclude several benefits for patients of numerous illnesses/conditions, it helps people. Alcoholic derivatives are extensively used in antibiotics and other pharmaceuticals, which is fine, so should medical marijuana be as well. Heck investing in pharmaceuticals should be encouraged as it helps people fele better in large, cures medical conditions, saves lives and so forth compared to commodity-driven companies, banks, and other industries. A strong pharmaceutical base has a vital connection to save lives, and medicinal marijuana has been proven so far to do it's part. Sure it has a recreation side to it, but if I invest in companies that are only exposed to medicinal marijuana at the moment, why not take advantage of this emerging market, it helps the people, the society and also removes myself from blue chip stocks that do some harm along with good. I ask, what are your thoughts guys, is this reasoning sufficient, views, thoughts, discussion?