The following are Q&A from the time of Sheikh Abdul Qadeem Zalloom (raheemullah): Question: Are we allowed do deal with share companies (PLCs) owned by Muslims? Answer: Having dealings with share companies belonging to Muslims is void (batil) because they cannot be contracted in Islam i.e. they do not exist as a necessary party in the contract of sale and purchase… in order to have offer and acceptance with the other side with whom the deal is made. Question: As Pakistan International Airlines (PIA) is a Muslim owned share company, are we allowed to buy from them and if not why not? Answer: Share companies (PLCs) are invalid in Islam. This is because they are not contracted and they are not considered to be an existing party in a contract between the Muslims. Therefore, it is not allowed to have dealings, in terms of sale and purchase etc. with share companies whose owners are Muslims, because they have not been contracted between them for they are inv...
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