(South America) I was particularly interested to know what kinds of sectors islamic investors should
  • "A. The financial sector in general, and banks and insurance companies in particular, represent dangerous ground for Muslim investors owing to their involvement, in a very fundamental way, with riba. As a result, the entire sector has been declared ""off limits"" by most Shari`ah boards. The Dow Jones Islamic Market Indexes, for example, include no banking or insurance securities. If, however, you are considering an investment in a bank that transacts with a minimum of riba, your answer is at least theoretically correct. However, the real problem is determining the amount of the income the bank actually earns from riba and this, in practical terms, is nearly impossible. Therefore, my advice would be to stay away from such an investment. In addition, several of our most respected Shariah scholars have given the opinion that it is unlawful to deposit in riba-based banks (if an Islamic alternative is available) because to do so encourages and supports the riba-based system of finance. Then, when this is their opinion on deposits, their opinion in regard to investing in such banks is that to do so is clearly unlawful. And Allah knows best.
    The answer has been taken from various sources of scholars, academics and muslim inspire research team – and we do not verify its accuracy And Allah knows best."