"O ye who believe! Do you eat your possessions among you in a false, except by way of trade with the willingness of each of you. "(An-Nisa ': 29)
Willingness on the well-meaning buyers and sellers are not disappointed or injured. In the transaction of usury, maybe between debtor and creditor sign a loan with a voluntary, but basically it is forbidden because the debtor loses. Similarly, the buying and selling shares, especially when the flat or declining graph.
With the buying and selling shares, how many players are considered the master stock and admired his junior final defeat and eventually some even committed suicide. A stock player, even glaring monitor stock price movements throughout the day so as not to lose the chance to profit if the stock price should fall or rise. Once there happened a customer who wants to hit his broker with a hammer because of a loss. I doubt if it is in accordance with syariah ...
Some say, if you try the real sector, we also can lose. That's true, but reality shows that it is lawful, and in fact, more than 70% were successful entrepreneurs. Even if a loss, the process is not as fast on the stock. An entrepreneur with capital of 1 billion, at most he was broke after 1-2 years of operation. But in playing the stock, as well as gambling, that big money can disappear in one night or one month only. For example he bought shares in the price of a 1 billion, then a month he sold USD 500 million. Then he bought shares of B, a month later because the price falls forced him to sell USD 100 million. Losses happen so quickly, especially if the purchased shares worth a 0. If the real sector, a businessman who fell can finally learn and ultimately succeed, the process of stock so quickly and could cause addiction like gambling.
"... So that the treasure should not only circulate among the rich among you have. What was given to the Apostles accept him. And what he forbids you then leave, and fear Allah. Verily Allah is severe in Punishment. "[Al-Hashr: 7]
Buying and selling of shares is forbidden because it violates God's commands in surah Al-Hashr verse 7. In Mudlorobah and Musyarokah, entrepreneurs who need capital to get money from investors to run their business. If the sale of shares held, the capital needed for business eventually circulated among investors of the other investors, so the real sector can not develop it because of lack of funding.
For example, in stock exchange transactions of shares at between Rp 200 billion up to USD 1 trillion PER DAY. Money is not anything useful because only circulate among the wealthy (the owner of money) alone. And if the money was invested to open a new company, at least 200 companies could stand. Suppose we are importing soybeans Rp 3 trillion per year from the U.S., could be with money in mind, we can move the agricultural sector, so that hundreds of thousands of farmers could work and provide a living for millions of family members, people's food needs can be fulfilled, and the state could save foreign exchange amounting to Rp 3 trillion per year.
But if we consider the stock sale was lawful despite the conflict with Al-Hashr verse paragraph 7, then the money amounting to Rp 200 billion to Rp 1 trillion, it does not mean anything except circulating among stock speculators. Economy could get stuck ...
Buying and selling shares is also contrary to the concept of Islamic States. In the concept of Islamic States, the people who work together to form a company, whether businessmen or investors to know each other and a clear contract. The concept may be quite similar to modern joint venture company.
"From Saib Al Makhzumi ra: He is Syarikat (business partner) Prophet Muhammad when it was the Apostle. After the event Fathu Mecca, the Prophet said: "Welcome to my brother and my syariah" (Imam Ahmad, Abu Dawud, and Ibn Majah)
That the concept of the business community in Islam. Fellow partners know each other. If the stock sale, the majority of business partners majhul or unknown. It's so liquid, a company's shareholders could change, both the number of foxes to any person. A Liem Sioe Liong, or James Riady (original owners), knowing virtually no investors who bought its shares through the Stock Exchange on the secondary market. Which is better, the Islamic system or the capitalist system?
Some say that it depends on intent. If his intention to buy shares for investment, the buying and selling shares in the secondary market kosher. If the speculation, it is unlawful. How easy is that?
If his intention was an investment, of course he will hand direct capital to entrepreneurs who need capital either directly or in the primary market (IPO). But if you give money to the shareholders who sold shares (speculators) in the secondary market, were equivalent to the speculation. This resulted in the money supply only among fellow owners of money as mentioned above.
Such intent, if not done the right way, the same as the rich give charity to which then used them to gamble or engage in immoral acts. If he had known about it but still do it, so he has help one another in such disobedience mentioned in the Qur'an.
There are also observers who say that the buying and selling shares to ordinary people who do not have the data it is forbidden, because the big risk. But for the experts and have the data, it was lawful. This is equivalent to saying that people who are not intoxicated, permitted to drink alcohol, or a lawful candidate gamblers to gamble. Islam does not discriminate like that ...
From Abu Hurairah ra that the Prophet SAW said: "There will come a time where people do not care what you take, whether from a lawful or unlawful" (Bukhari)
There may argue that the stock sale was necessary for investors who only have the stock can make money by selling it if there is an urgent need.
Indeed the verse and the hadith above it is clear that the buying and selling shares many mudlorotnya and prohibited by religion. If investors do need money, so he can draw from syarikatnya capital if the money is there. But if the money is not there, then he can owe, owe it for as long as there its usury not permitted by the religion. There were Islamic capital market should cooperate with Islamic Bank to lend money to investors who trapped. And it's good for the investors do not invest all the money he had, and save some money in Bank Syariah, so as not to make buying and selling stocks.
Stock sale occurred except for his performance his emiten less well, perhaps caused by fraud from the issuer so that investors can not get a decent profit, but from capital gains through buying and selling shares in the secondary market. Imagine, there is a large company with many products used widely in the community, but only provide dividends for only 2.3% per annum from the existing market value if we buy it. That means if we buy the stock, then the capital point we'll be back after more than 40 years! Whereas directors paid tens of millions of dollars per month, as well as the owner of the company.
It's just like this paragraph, if for its own interests, then the issuer wants to get the benefits / salary. But if for investors, he gave a few results:
"Woe to those who reduce, if they had measured possession of others (buy) them comply, but if they were meted others (sell) or weigh for others, they reduce. Whether they were not sure, that soon they will be resurrected from the grave on a very big day, a day where people would stand facing the Lord of the universe?! "(Al-Muthafifin: 1-6)
I have friends who engaged in the Baitul Maal wa Tamwil, by lending money USD $ 50 thousand, on average he can earn money from revenue sharing (7 for traders and 3 for BMT) is Rp 30 thousand in just 20 days. That means in less than 1 month, he got a profit of 60%. In a year if the conditions are such that, at least his BMT 720% profit. Capital in return for a year 7 times more.
So without buying and selling stocks, with investors share profits should be able to live if the issuer (States) of his honesty. Perhaps an investor will not have a profit of 720% as above, but should have been 50% only can get if you do not happen gharar. Because if the business is run by professionals, the benefits can far above the existing bank interest (9%), not under it.
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