Resolution No.(17) by the Board of Iftaa`, Research and Islamic Studies:
“Ruling on Investing Orphans` Funds in Development Bonds and Treasury Bills“
Date: 29/1/1411 AH, 20/8/1990 AD.
We have received the following question:
What is the ruling of Sharia on investing the funds of orphans in development bonds and treasury bills?
Answer: All success is due to Allah.
The Board has decided that it is forbidden because it is a usury-based loan, and has attached the answer of Mr. Mostafa Az-zarqa in this regard. And Allah Knows Best.
Chairman of the Iftaa` Board, Chief Justice Mohammad Mohailan
The Grand Mufti of Jordan, Izz Addeen At-Tamimi
Dr. Ibrahim Al-Kailani
Dr. Ahma Hilayil
Sheikh Ibraheem Khashan
Dr. Yaseen Daradkih
Dr. Abdulhaleem Ar-ramahi