Investing in stocks is a popular halal way of growing wealth. Well, it is important to consider the company’s activities before investing in any stock.
Amazon is one of the world’s largest companies and is very popular in the stock market. Everyone wishes to have Amazon stock in their investment portfolio, but is it halal to invest in Amazon stock?
Many Muslims are confused about investing in Amazon stock because the company is involved in numerous activities which may be considered haram.
In this article, we will clearly answer is Amazon stock halal or haram in Islam. We will also discuss Amazon’s activities and how they affect the Islamic ruling on investing in its stock.
Is Amazon Stock Halal?
According to our research and talk with Islamic Clerics, Amazon stock can be considered haram because, along with halal products, it also sells products and services which are not permissible in Islam.
For example, Amazon sells books that contain nude or dirty content; music, movies, and television shows that contain immoral content; as well as haram drinks and food.
Hence, no matter how small amounts of haram activities are done by the company, its stock is still not permissible for Muslims to invest in. This is because the profit you make from them also includes money from haram products.
Although Amazon sells most halal products, such as books, clothes, kitchen appliances, software, tech gadgets, and other items that are in compliance with Islamic law.
But because Amazon is involved in some haram activities, it is not halal to invest in its stock.
Well, some Islamic scholars have different opinions about investing in Amazon stock. According to them, if the haram products earning does not make a major part of Amazon’s business and profits, then it will be permissible to invest in its stock.
On the other hand, some scholars believe that even if Amazon is involved in minor haram activities, then it is still haram to invest in its stock.
Therefore, it is up to you to decide whether Amazon stock is halal or haram, in your opinion. There is no direct hadith or verse from the Quran that clearly states whether investing in Amazon stock is halal.
Why Avoid Investing In Amazon Stock?
It is important to avoid investing in any stock that involves haram activities because Islam does not promote earnings from haram activities.
The Prophet Muhammad (PBUH) mentioned that Allah does not accept earnings from unlawful sources, so it is better to avoid haram activities.
The main reason to avoid investing in Amazon stock is that the company sells products and services that are haram in Islam.
This means that when you buy Amazon stock, you are indirectly investing in these products and services as well.
Also, there are many other halal companies available in the stock market that you can invest in. So why take the risk to invest in Amazon stock when there are other safer options available?
You can also read is day trading haram? If you do.
Why Some Say Amazon Stock Is Halal?
Some people argue that investing in Amazon stock is halal because most of its products and services are permissible in Islam.
They argue that the haram activities of Amazon are very small and do not make up a major portion of its business and profits.
However, this reasoning is not correct, as even a minor amount of haram activities cannot be overlooked in Islam.
Therefore, avoiding investing in Amazon stock and looking for other safer investment options is better.
Otherwise, it is upon you to decide if you want to invest in Amazon stock. But it is always better to take the safe route and avoid any potential religious discussions.
If you’re confused about starting with the stock market, you can read is investing in stocks haram.
Tips To Invest In Halal Stocks
For Muslims looking to invest in the stock market, ensuring that you’re investing in halal stocks is essential. Here are some tips to consider:
1. First, research the company’s involvement in industries and activities that are considered haram. Do not invest in companies associated with interest-based activities, gambling, haram drinks of food, and pork products.
2. Try to find out as much as you can about the company’s management and the executive team. Investing in companies with strong and honest management teams is essential for successful investments.
3. Invest in companies based on ethical principles and dedicated to the people’s social welfare.
4. Invest in companies associated with growth prospects with a history of consistent performance and good returns.
By following these tips, you can rest assured that your investments align with Islamic teachings and help improve the world. Investing in halal stocks is not only a great way to make money but also to contribute positively to society and the economy at large.
If you’re confused about Tesla stocks, you can read is Tesla stock halal.
Q. Is buying Amazon stock halal?
A. No, as Amazon sells products and services that are haram in Islam, so it is not halal to invest in its stock.
Q. Is it Haram to invest in Amazon stock?
A. Yes, it is haram to invest in Amazon stock because the company is involved in numerous activities which are not permissible in Islam.
Q. Is Amazon stock Shariah compliant?
A. No. According to Islamic law, investing in companies that produce or sell haram things. Amazon sells some items considered haram, so it does not meet the requirements of Islamic investing.
In conclusion, Amazon stock is not halal in Islam due to its involvement in haram activities. While some Islamic scholars might give a different opinion.
In the end, we would like to remind our Muslim brothers and sisters that Allah rewards those who stay away from haram activities. So, it is always better to stay away from anything that could be seen as haram.
I hope your query is Amazon stock halal has been answered. Stay informed and make the right decisions. May Allah grant us all success in our endeavors, Ameen.