Salih al-Sultan
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Salih ibn Muhammad al-Sultan is a contemporary Saudi Islamic scholar and professor of Islamic jurisprudence at Qassim University, known for his research on modern financial transactions, corporate shares, and stock trading.
Academic Career
Salih ibn Muhammad ibn Sulayman al-Sultan served as a professor in the College of Sharia at Qassim University. His scholarship centers on Islamic jurisprudence (fiqh), particularly contemporary financial transactions and commercial company rulings. He authored al-Ashum: Hukmuha wa Atharuha (Corporate Shares: Their Legal Ruling and Impacts), published in Dammam in 1427 AH (2006 CE), which systematically examines the juristic status and economic ramifications of joint-stock shares.
Juristic Views
In the field of modern commercial transactions (fiqh al-muʿamalat), al-Sultan evaluated the permissibility of capital market practices. On the question of active stock trading and speculation (al-mudaraba fi al-ashum), he adopted the juristic position that market speculation on shares is strictly prohibited, maintaining this prohibition even when the shares belong to companies whose primary activities are otherwise sharia-compliant.
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List of Works
al-Ashum: Hukmuha wa Atharuha (Corporate Shares: Their Legal Ruling and Impacts) is a contemporary Islamic jurisprudence treatise that examines the legal rulings governing corporate stock shares, market trading, and financial speculation. The study addresses contemporary financial developments regarding joint-stock corporations and stock markets, analyzing legal evidences, juristic maxims, economic realities, and legal objectives (maqasid) related to stock transactions.