I found your site useful and informative.
Could you elaborate more on the question of Investing in Stocks etc. Stock prices also can vary tremendously, sometimes within a few hours (both up and down).
Will it be considered a form of gambling?
Investing in stocks cannot be termed as gambling. Gambling, or more precisely “wager”, is something significantly different from investing in stocks. The tremendous fluctuation in stock prices does not make it anything similar to wager.
Thus, in my opinion, investing in stocks cannot be prohibited because of the potential of tremendous fluctuations in stock prices.
However, a Muslim should always try to guard against all such activities that have the potential of inculcating in him a monetary bent to the extent that he becomes unmindful of his religious and moral obligations. It is observed that a high degree of involvement in financial activities, as is generally the case with active stock investors, can very easily capture the hearts and minds of people and thereby make them unmindful of their religious, moral and ethical financial obligations.
I would therefore suggest that even though investing in stocks and shares is not among the financial transactions that have been prohibited by Islam, yet a true Muslim should always try to keep a very close eye on his degree of involvement in all such activities that have the potential of making him materialistic and unmindful of his duties towards Allah and his fellow human beings.
14th January 1999