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Resolutions of Iftaa' Board

Resolution No.(68): “Ruling on Investing and trading in Stocks of Public Shareholding Companies“

Date Added : 02-11-2015

 

Resolution No.(68): “Ruling on Investing and trading in Stocks of Public Shareholding Companies“

Date: 5/8/1424 AH corresponding to 1/10/2003 AD.

 

The Board received the following question:

What is the Ruling of Islamic Sharia on investing and trading in stocks of public shareholding companies?

Answer: All success is due to Allah.

After careful study and deliberation, the Board believes that investing and trading in stocks of public shareholding companies, which deal in illegal business such as trading in wine or producing it, is forbidden, and the same ruling applies to similar companies.

As regards companies that deal in lawful business, which was slightly mixed with that which is unlawful such as dealing in usury, investing in them is permissible, provided that the investors remove the usurious amounts from their profits and give them to the poor and needy Muslims. And Allah Knows Best.

Iftaa` Board

Chairman of the Iftaa` Board, Chief Justice, Izz Al-Deen Al-Tamimi

   Dr. Mohammad Abu Yahia     

  Dr. Ahmad Hilayil     

    Sheikh Mahmoud Shwayyaat

Dr. Yousef Gheezaan

Dr. Wasif Al-Bakhri

 Sheikh Saeid Hijjawi

Sheikh Na`eim Mujahid

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Summarized Fatawaa

Who is the one required to slaughter the 'aqīqah?

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
It is Sunnah for the 'aqīqah to be slaughtered by the guardian of the newborn — the one upon whom the child's financial maintenance is obligatory — provided he is financially capable of doing so. 'Alī ibn Abī Ṭālib, may Allah be pleased with him, reported: "The Messenger of Allah ﷺ performed the 'aqīqah for al-Ḥasan with one sheep." — Narrated by al-Tirmidhī. And Allah Almighty knows best.

Must a person refrain from eating for the rest of the day if they break a fast of a vow (nadhr) or a make up fast (qada)?

 

Whoever observes a vowed fast (nadhr) or a makeup fast (qada) is prohibited from breaking it without a valid excuse. If they break it without a legitimate reason, they are sinful.
However, they are not required to refrain from eating for the rest of the day, because such restraint is only required out of respect for the month of Ramadan, not for other types of fasting.

How is the beginning of Ramadan determined?

1. Completing 30 days of Sha‘ban, or
2. Sighting the crescent moon after sunset on the 29th day of Sha‘ban.
It is Sunnah to search for the moon, and it is obligatory to follow the official authorities responsible for announcing it.

What is the ruling on praying behind a disliked Imam?

 

 
Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is mildly disliked (Makruh Tanzihan) for a man—other than the permanent designated Imam (Imam Ratib)—to lead people in prayer if the majority of them dislike him due to a religiously blameworthy reason (Amr Madhmum Shar‘an), such as associating with open sinners (Fussaq), for example. As for the followers who dislike him, the prayer behind him is not disliked for them. However, if less than the majority dislike him, or if the majority dislike him for a reason that is not religiously blameworthy, then his leading the prayer is not disliked. And Allah the Exalted knows best.

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