Rafed English

Sales of Shares

2864. If a bank charges wages for selling the shares of a company and transferring the documents, the transaction is in order, because from the point of view of jurisprudence it is either hiring* or the ju'ala (agreement). In case, therefore, the bank charges wages by mutual consent the transaction is valid and the bank is entitled to get wages.

* Because it may be said that the shareholders of the company hire the bank for this task.

2865. Similarly there is no harm in the transfer and sale of shares and other documents. However. if the transactions of the shareholders lend color to interest the purchase and sale of the shares and documents is not lawful.

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