عربي
Home


Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

Date Added : 09-01-2022

Resolution No.(307)(15/2021): By The Board of Iftaa', Researches and Islamic Studies:

"Organized Banking Tawarruq is Forbidden from the Perspective of the Maqasid of Sharia"

Date: (25th of Jumada Al Oula, 1443 AH), corresponding to (30/12/2021 AD).

 

In the name of Allah, Most Gracious, Most Merciful

All perfect praise be to Allah, the Lord of the Worlds; may His blessings and peace be upon our Prophet Mohammad and upon all his family and companions.

On its sixteenth meeting held on the above date, the Board of Iftaa`, Research, and Islamic Studies reviewed the issue of organized banking Tawarruq* or what is sometimes called "Personal Finance" offered by some Islamic banks.

After careful consideration, the Board decided the following:

Unlike conventional banks, Islamic banks rest on meeting the Maqasid of Sharia (The higher objectives of Sharia) as well as observing its rulings. For this, their transactions, in essence, are based on supporting the real economy and applying the methods of investment, which comply with the rules of Sharia.

From the perspective of Sharia, in contracts, intentions and meanings, not words and structures, as well as outcomes shall be taken into consideration, so dealing with organized banking Tawarruq is prohibited  based on the maxim "Prohibition of what may lead to sins", which is, in this case, Riba (Usury/interest). This is in addition to emphasizing that the difference between Islamic and conventional banks isn`t a mere difference of form. Moreover, this Tawarruq will have a negative impact of the Islamic economy because there is no real growth nor rotation of the economic sectors; consequently, many Fiqh academies, Fatwa houses, and the majority of the scholars issued Fatwas prohibiting organized Tawarruq.

During its 19nth meeting/2009 AD, the International Islamic Fiqh Academy issued a resolution prohibiting the organized banking Tawarruq or what is called "The Personal Financing." The reason for this is that there is explicit, implicit, or customary collusion between the financier (Bank) and the customer whereby the latter gets instant cash for a higher amount that he/she owes to the bank, and this is usury per se. We can add that this has been confirmed by the Iftaa` Board of Jordan through Resolution No.(3/2012) which considered organized Tawarruq as a form of circumventing Riba because the real objective is obtaining instant money in return for paying extra amount to the bank.

In conclusion, we confirm this Resolution and rule that Islamic banks must abide by the Sharia-compliant investment methods that achieve the higher objectives of Sharia. And Allah The Almighty Knows Best. 

 

 

Chairperson of Iftaa` Board,

Grand Mufti of Jordan,

Dr. Abdulkareem al-Khasawneh

Dr. Mohammad al-Khalayleh

Prof. Mahmoud al-Sartawi/ Member

Dr. Majed al-Darawsheh/ Member

Sheikh Sa`eid Al-Hijjawi, Member

Judge Samer Al-Khobbaj/ Member

Prof. Adam Nooh Al-Qhodaat/Member

Prof. Amjad Rasheed/Member

Dr. Jamil Khatatbeh/Member

Dr. Ahmad al-Hasanat/ Member

Dr. Mohammad Younis Al-Zou`bi/ Member

 

 

* Tawarruq means a sale contract in which the buyer obtains merchandise on credit and then sells it at a loss to the original seller for cash. And Allah Knows Best

 

Decision Number [ Previous | Next ]


Summarized Fatawaa

What is the ruling on the cessation of blood after (40) days from delivery, but later continued sporadically during two days of Ramadan?

Once postpartum bleeding (Nifas) ceases, and the woman is certain that it won`t reoccur, then she becomes ritually pure and so she is free to make Ghusl (purificatory bath), pray, and fast. If the bleeding reoccurs before fifteen days from its cessation, and before the end of (60) days after delivery, then the ruling on postpartum bleeding is effective, and her fasting and prayer are null and void, thus she must make up the fasting that she missed and not the prayer during those particular days.

A person owns sheep or goats and occasionally feeds them from the grass in other people's orchards without the owners’ permission. Is it permissible to eat the meat of these animals if invited to do so? Is it permissible to purchase from these sheep whose owner feed them from people's orchards without their permission, and can one accept gifts from them, such as meat or milk?

 

 

 

Yes, it is permissible because the one who is accountable is their owner, and the cost of the grass on his accountability. In addition, in order to be on the safe side you should abstain from eating his products, because his sheep case is as if they were fed on impurities. And Allah Knows Best.

What should a person, who doubts the validity of his Wudu, or over performs it, do?

One who doubts the validity of his/her Wudu while performing it should redo it until he/she is certain of having attained purity. But, if doubt was after having performed Wudu, then he/she should not pay attention to that as doubt after the end of an act of worship does not count. This is of course in case doubt was within the reasonable limits since once it goes beyond that, it becomes a whispering of the Shaytaan (devil) which he/she should ignore as the Wudu is valid.

Is washing the private part after urinating (Istinjaa`) a condition, and is it done with water and soap, or with water only?

Istinjaa` is obligatory for removing impurity, and it can be done with toilet paper, or a stone, or water. It is preferable to do Istinjaa` first with paper, or stone, or the like, then to wash the private part with water until making sure that the impurity has been removed. Using soap is not a condition, but there is no harm in doing so provided that it is washed off with water. It is also permissible to use either water, or paper if impurity is removed by any.

See More