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Salam everyone,

Unfortunately, I invested into GME stock before I did the research and found out that it was not a halal investment. Growing up in America, I never studied or really even heard about Islamic Finance until talking with my Imam recently.

I invested with a clean intention, but if I sold now I would lose money. Would it be ok to wait, make profit, and donate all the money for Sadaqah?

I would also like to ask for some good Islamic finance sites to learn more about it.

Thank you all

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  • I don't know if this is really answerable without knowing exactly why the initial investment wasn't considered halal in the first place, and whether that reasoning would still apply.
    – goldPseudo ♦
    Jan 31, 2021 at 2:01
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    GME have a lot of debt, thus lots of interest. That's what makes it haram from my understanding.
    – moinudin
    Jan 31, 2021 at 2:28

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Wa alaikum musalam

You don't know if it will ever recover, and if Allah forbid you die before selling you could be in trouble. You also can't donate haram money as sadqah. It had to be donated without any such intention.

There is a chance, however, that given you didn't know at the time of investing that you can recover the current value given that you are not making a profit. This is where my understanding is limited. There are some knowledgeable people on https://www.reddit.com/r/halaalinvestor you could ask.

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