Modern Jurisprudence and Law

Modern Jurisprudence and Law

Examining the legitimacy of bonus shares from the perspective of justice in the Quran and Sunnah

Document Type : Specialized article

Author
Faculty member, Assistant Professor, Department of Islamic Studies, Islamic Azad University, West Tehran Branch, Tehran, Iran
10.22034/jml.2025.2074714.1532
Abstract
Today, in joint-stock companies, there are methods that can lead to returns on shareholders' investments, apply certain financial and economic tools to make business transactions sweet and profitable, and make the company's shares popular and attractive in financial markets, including the stock market.Bonus shares are one of these methods and tools. Investigating the importance of dividing and allocating bonus shares and studying the application of its legitimacy from the perspective of Islamic jurisprudence and its compliance with the "rule of no harm" is the subject of this article. This research is an analytical-descriptive study and tries to explain the subject by explaining its various dimensions from a religious and legal perspective.

Studies show that the stock returns of companies that pay bonus shares are booming in financial and business markets, and the distribution of bonus shares is considered a positive thing, and the stock returns of companies that distribute bonus shares are higher than those that do not implement this measure. These studies also show that the policy of distributing these shares from the profits does not cause any harm to individuals. This means that the principle of this action is not harmful and does not include the do-no-harm rule.
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Articles in Press, Accepted Manuscript
Available Online from 28 October 2025