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Resolutions of Iftaa' Board

Resolution No.(62): "Making Repentance after having Purchased Stocks of a non-Islamic Bank"

Date Added : 25-02-2020

 

Resolution No.(62): "Making Repentance after having Purchased Stocks of a non-Islamic Bank"

Date: 5/3/1424 AH, corresponding to 7/3/2003

 

All perfect praise be to Allah, The Lord of The Worlds; and may His blessings and peace be upon our Prophet Mohammad and upon all his family and companions.

We have received the following question:

In 1977, I bought two hundred stocks of a non-Islamic bank and I want to atone this sin. What is the view of Sharia regarding these stocks? Should I keep them or give them to charity, but keep my principal sum? Am I allowed to give their value to one of my sons whom I`m not obliged to support, to pay for his tuition, marriage and the like. How should I calculate the difference in the value of the currency between that time and now?

The Board is of the view that she should sell all the stocks that she herself had purchased from the bank and from her husband, and then she should take only her principal sum as prescribed in the following verse: "Yet if you repent, you shall have your principal sums, not being unjust, and no injustice being done to you." {Al-Baqarah/279}. Moreover, She should distribute the remaining sum amongst the poor and needy, and she isn`t allowed to take any of it for herself unless she was poor. In this case, she may take what covers her need as a poor person. Moreover, she is allowed to spend on one of her sons whom she isn`t obliged to support as much as needed to cover the expenses of his study or marriage if he was poor.

As far as the calculation of the difference in the values of a currency between the times of purchasing the stocks and now, both values should be estimated and the total should be divided by two. And Allah Knows Best.

Chairman of the Iftaa` Board, Chief Justice, Izz Aldeen Attamimi
Dr. Wasif Al-Bakhri
Dr. Mohammad Abu Yahia
Dr. Yousef Ghizaan
Sheikhb Sa`id Hijjawi
Sheikh Na`iem Mujahid
Sheikh Mahmood Shwayat

 

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Summarized Fatawaa

Does the wife have the right to stop her husband from visiting some of his relatives because their meetings involve religious violations?

Couples should advise one another in kindness, and the wife can stop her husband from committing sin by resorting to a kind and tactful approach.

Is it permissible to distribute the raw meat of the vowed animal sacrifice amongst the poor/to offer it to them in cooked form?

It is impermissible for the vow-maker to eat from the vowed animal sacrifice, rather, he/she should distribute it as he/she had intended upon making the vow, but if the vow was a general one, without any specification then, it is better to give it as raw meat.

Is Zakah (obligatory charity) due on the Zakah money received by a poor person, and reached a Nissab (minimum amount liable for Zakah), and a whole lunar year had lapsed over having it in his possession?

Yes, the poor who possessed a Nissab for a whole lunar year is obliged to pay the Zakah due on that money even if it was given to him as a Zakah money in the first place. And Allah Knows Best.

What is the ruling on reciting verses of the Holy Quran on water, then drinking it?

It is permissible to recite Quran on water, then drink it as a kind of treatment since the Quran heals. Allah, The Almighty, Says (What means): "We send down (stage by stage) in the Qur’an that which is a healing and a mercy to those who believe: to the unjust it causes nothing but loss after loss." [Al-Isra`/82].

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