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Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

Date Added : 25-02-2020

Resolution No.(87) by the Board of Iftaa`, Research and Islamic Studies: “Ruling on Purchasing Stocks of a non-Islamic Bank“

Date: 2/4/1426 AH, corresponding to 11/5/2005 AD

 

Question: What is the ruling of Sharia on purchasing stocks of a non-Islamic bank?

Answer: All success is due to Allah.
The Board is of the view that purchasing stocks of non-Islamic banks is forbidden in principle because Allah The Almighty Says {what means}: “Those who devour usury will not stand except as stand one whom the Evil one by his touch Hath driven to madness. That is because they say: "Trade is like usury," but God hath permitted trade and forbidden usury. Those who after receiving direction from their Lord, desist, shall be pardoned for the past; their case is for God (to judge); but those who repeat (The offence) are companions of the Fire: They will abide therein (for ever).” {Al-Baqrah/275}. One who has purchased such stocks and wants to make repentance should suffice by taking his money{capital} without any increase, for Allah, The Almighty Says in this regard {what means}: “O ye who believe! Fear God, and give up what remains of your demand for usury, if ye are indeed believers. If ye do it not, Take notice of war from God and His Apostle: But if ye turn back, ye shall have your capital sums: Deal not unjustly, and ye shall not be dealt with unjustly.” {Al-Baqarah 278/279}. Therefore, it is imperative that he/she takes back his/her money {capital} without any increase since what is begotten through a forbidden act is forbidden as well. And Allah Knows Best.

 

Board of Iftaa`
Chairman of the Iftaa` Board, Chief Justice, Izzaldeen At-Tamimi
Dr. Abdulsalam Al-Abbadi                        Dr. Yousef Ghyzaan
Sheikh Saeid Hijjawi                                  Sheikh Naeim Mojahid
Sheikh AbdulKareem Al-Khasawneh      Dr. Wasif Al-Bakri
Dr. Abdulsalaam Al-Salaheen                   Dr.Abduaziz Al-Khayaat

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Summarized Fatawaa

Does the deceased hear the supplications or recitations of those visiting his/her grave? And does making constant supplications for the deceased who didn`t adhere to performing the prescribed prayers ameliorate his/her affliction?

Praise be to Allah the Lord of the Worlds.

In principle, the dead hear the living since it has been rigorously authenticated that the Prophet (peace and blessings be upon him) ordered the bodies of the idolaters slain in the Battle of Badr to be buried. He then approached them and called them one by one and said, “Have you found what your Lord promised to be true for we have found what our Lord promised us to be true.” ‘Umar asked him, “O messenger of God! Why do you speak to lifeless bodies?” The Prophet (peace and blessings be upon him) replied, “By the One Who has sent me with the truth! You do not hear my words better than they do except that they cannot respond.”{Related by Bukhari & Muslim}.

However, not all the deceased are in the same situation because Allah the Almighty says, "Before them is a Partition till the Day they are raised up."{Al-Mu`minun, 100}. Moreover, supplication reaches the deceased. And Allah knows best.

 

Is Iddah (waiting period) incumbent on an old lady whose husband had died?

Upon the death of the husband, Iddah is incumbent on the wife regardless of her age.

Is Zakah(obligatory charity) due on articles of merchandise even if they were stacked in the merchant`s stores for years?

Yes, Zakah is due on stored articles of merchandise even if they were stacked in the merchant`s stores for years because this is the way Islam has countered monopoly.

Is it permissible for a woman to sit with her brothers –in- law?

It is impermissible for a woman to sit with her brothers-in-law, and it is also impermissible for a person to have a Khulwa(seclusion) with his sister-in-law.

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