The Ulema Council (theologians) under the Spiritual Administration of Muslims (DUM) reportedly banned Russian Muslims from margin trading and short positions. Online DUM.
“Its purpose is to engage in activities prohibited by Sharia (e.g. alcohol production, pig farming, gambling industry, etc.) <…> It is illegal to buy shares on a loan with interest from a broker. <…> It is forbidden to enter into futures contracts on stocks. <…> It is forbidden to give the shares of the company in return for debt and rent.
DUM also imposed a special Islamic tax – zakat – on Muslim-owned shares. It is noted that zakat should be paid when a Muslim reaches the nisab, which is the minimum income or property.
Kamil Samigullin, former head of the Spiritual Administration of Muslims of the Republic of Tatarstan declarationThe inability of Muslim military personnel who are members of special operations in Ukraine to fast during Ramadan.