Bank shares are in fact
money, and based on this it is not permissible to buy or sell bank shares
because that is selling money for money without meeting the conditions of
equal amounts and concluding the exchange in one sitting. Moreover the banks
are riba-based institutions and it is not permissible to cooperate with them
by either buying or selling, because Allaah says (interpretation of the
meaning):
“Help you one another in Al‑Birr and At‑Taqwa (virtue,
righteousness and piety); but do not help one another in sin and
transgression. And fear Allaah. Verily, Allaah is Severe in punishment”
[al-Maa'idah 5:2]
And it was proven that the
Prophet
(peace and blessings of Allaah be upon
him) cursed the one who consumes riba, the one to whom it is given, the one
who writes it down and the two who witness it, and he said they are all the
same. Narrated by Imam Muslim.
All that you are entitled to is your capital.
My advice to you and to other Muslims is to beware of all
riba-based transactions and to warn against them, and to repent to Allaah from
any such transactions you may have engaged in in the past, because riba-based
transactions are a kind of war against Allaah and His Messenger
(peace and blessings of Allaah be upon
him), and are one of the causes of the wrath and punishment of Allaah, and He
says (interpretation of the meaning):
“Those who eat Ribaa will not stand (on
the Day of Resurrection) except like the standing of a person beaten by
Shaytaan (Satan) leading him to insanity. That is because they say: ‘Trading
is only like Ribaa,’ whereas Allaah has
permitted trading and forbidden Ribaa. So whosoever receives an
admonition from his Lord and stops eating Ribaa, shall not be punished for the
past; his case is for Allaah (to judge); but whoever returns (to Ribaa), such
are the dwellers of the Fire — they will abide therein”
[al-Baqarah 2:275]
And Allaah says (interpretation of the meaning):
“O you who believe! Be afraid of Allaah and give up what
remains (due to you) from Ribaa (from now onward) if you are (really)
believers.
279. And if you do not do it, then take a notice of war from
Allaah and His Messenger but if you repent, you shall have your capital sums.
Deal not unjustly (by asking more than your capital sums), and you shall not
be dealt with unjustly (by receiving less than your capital sums)”
[al-Baqarah 2:278-279]
And please note the hadeeth referred to above.
