"Resolution No.(93):"Ruling on Investing Minor's Money by the Guardian
Date: 3/8/1426 AH 7/9/2005 AD
Answer: The Board decided that is unlawful to develop or to invest a minor's property in accordance with the ruling of Shariaa, Also the minor must be guided to make lawful earnings and avoiding unlawful earnings .
As a result, it's lawful for a guardian to invest or to develop a minor's money on condition of a commitment before Shariaa Judge to do so in line with Shariaa rulings.
In case the guardian fails to fulfill his duties, it is considered unlawful and he is responsible for the minor's money which requires to invalidate his custody. And Allah knows best.
CHAIRMAN OF THE IFTAA BOARD /CHIF JUSTICE/IZ ADDIN AL TAMEMY
DR.YOUSIF ALI GHAYDAN DR. ABD AL SALAM AL ABADY
DR.ABD AL MAJEED AL SLAHEEN AL SHEIK. SAEED ABD ALHAFED ALHYJAWEE
DR.WASIF AL BHAKRY AL SHEIK. ABD AL KREEM AL KHSAWNEH
DR.ABD AL AZIZ AL KHYAT AL SHEIK. NAEEM MUHAMMAD MJAHED