He acquired some wealth by means of haraam shares; how should he get rid of it?

Question

Praise be to Allah.

Wealth that is acquired by
investing in haraam shares or via riba-based banks, must be gotten rid of by
spending it on various charitable causes. It may be given to the poor and
needy, or spent on the general interests of the Muslims, such as building
hospitals or schools, or paving roads, or it may be given to seekers of
knowledge and the like.

The scholars of the
Standing Committee for Issuing Fatwas were asked:

What is the ruling on
buying shares in companies and banks? Is it permissible for a person who has
bought shares in a company or bank to sell the shares after subscribing to a
broker who buys and sells shares, and it is possible that they may be sold
for more than the value for which the person bought them? What is the ruling
on the interest that the shareholder takes every year on the value of the
shares he holds?

They replied:

Buying shares in banks and
companies that deal with riba is not permissible. If the shareholder wants
to get rid of his riba-based shares, he may sell his shares at the current
market value, and take his original capital only; he should spend the rest
on charitable causes, and it is not permissible for him to take any of the
interest or profits of his shares. But if the shares were in a company that
does not deal in riba, then the profits are permissible. End quote.

Fataawa al-Lajnah
al-Daa’imah (13/508).

It also says (14/299): The
basic principle is that it is permissible to buy shares in any company if it
does not deal in haraam things such as riba and so on, but if it deals in
haraam things such as riba, then it is not permissible to buy shares in it.
Based on this, if any of the shares mentioned are in a company that deals
with riba or any other haraam things, then he must withdraw from it and get
rid of the profits by spending them on the poor and needy. End quote.

And Allaah knows best.