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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

I`m a pious Muslim woman, but my husband isn`t, what should I do?

You should exercise patience, make supplication that Allah guides him to the straight path, and keep advising him kindly.

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 seeking forgiveness between the two Friday sermons?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible to seek forgiveness (Istighfar) between the two Friday sermons (Khutbatayn), and it does not invalidate the Friday prayer (Salat al-Jumu'ah). Furthermore, it is not disliked (Makruh) to speak before the sermon, after it, or between the two sermons. Likewise, it is not disliked for one who enters during the sermon to speak if there is a need for it, provided he has not yet taken a place and settled into it. And Allah the Exalted knows best.

Is it obligatory to have the intention for each day of fasting, or is one intention sufficient for the whole month?

The intention is obligatory for each day of Ramadan because each day is an independent act of worship separate from the others.
The intention must be made at night before the break of dawn, as the Prophetﷺ said: "Whoever does not intend fasting at night, there is no fast for him." [An-Nasa’i] 
And he also said: "Whoever does not firmly resolve to fast before dawn, there is no fast for him." [At-Tirmidhi, Abu Dawood, and An-Nasa’i]
Whoever wakes up and eats Suhoor while mindful of fasting has made the intention. Likewise, one who firmly intends at any moment during the night to fast the next day has also fulfilled the intention.

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