Governmental development stocks

Q 8: What are the shares we, as Muslims, are not permitted to buy or sell from companies? It is important to note that all American companies deposit their reserve money in banks in return for Riba-based profits. The basic activities of some of these companies include dealing in forbidden foods, wines, interest-based loans or insurance.

A: It is impermissible to sell or purchase the shares of companies which deal in Riba, whether they take, give or sell Haram (forbidden) foods including pork and wine. The same applies to companies which deal in insurance as it involves risk and Riba. May Allah grant us success. May peace and blessings of Allah be upon our Prophet Muhammad, his family and Companions!