Resolutions of Iftaa' Board



Resolutions of Iftaa' Board

Date Added : 02-11-2015

 

Resolution No.(56): “Ruling on Reducing the Profits Due on the Purchaser (In Islamic Murabaha) Against His Settling of Payments Ahead of their Due Time, or Vice Versa“

Date: 22/9/1422 AH corresponding to 7/11/2001 AD.

 

The Board recieved the following question:

What is the ruling of Islamic Sharia on reducing the profits due on the purchaser for the Orphans` Fund Development Foundation against paying them ahead of time, or increasing them in case of delay?

Answer: All success is due to Allah.

Reducing the profits due on the purchaser (in case he settled all the payments due on him before the due time of the last one) isn`t permissible because the transaction/sale had been settled and the price of the commodity became due on him; therefore, it is impermissible to reduce any percentage of the profit in return for settling all the payments before the due date of the last one.

Similarly, the Board is of the view that it is impermissible to add any percentage to the profits due on purchasers (in Murabaha) against their procrastination in settling payments as this is considered a usurious interest.

The Foundation may-in case of extreme insolvency- defer the payments due on these purchasers as it deems suitable, and without adding any percentage to the profit due on them for Allah Says in the Noble Quran {what means}: “If the debtor is in a difficulty, grant him time Till it is easy for him to repay. But if ye remit it by way of charity, that is best for you if ye only knew. “ {Al-Baqarah/280}. And Allah Knows Best.

Iftaa` Board
Chairman of the Iftaa` Board, Chief Justice, Izz Al-Deen Al-Tamimi
                   Dr. Mohammad Abu Yahia       
                    Dr. Abdulsalam Al-Abbadi         
    Dr. Yousef Gheezaan
Dr. Wasif Al-Bakhri
   Sheikh Saeid Hijjawi
        Sheikh Na`eim Mojahid

 

1) For further details in this regard, kindly refer to RES No. (61)

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Summarized Fatawaa

Is it permissible for a wife to boycott (not to attend to his different needs) her husband?

It isn`t permissible for the woman to boycott her husband unless he is the reason behind that, and it is recommended that both spouses seek the advice of righteous people to make reconciliation.

Is there zakat on social security savings (retirement benefits)?

If the retirement benefits are received, zakat is due on them for one year. Before receiving them, they are not in the person’s possession to be liable for zakat. And Allah Knows Best.

What is the amount of the Fitr Zakah (obligatory charity) of Ramadan?

The Fitr Zakah of Ramadhaan is a Sa` (2500 grams) from what the people of that country or state eat the most. And Allah Knows Best.

If the fasting of nine years has accumulated upon me, I wish to make them up by dividing them over several years, as it is difficult to fast them all in one year due to their large number. Consequently, expiation will be due on me. Is it permissible to pay the expiation after completing all the make-up fasts, even if it takes years?
 
 
 
 
 

If the fasting was broken due to a valid legal excuse, it is permissible to divide the make-up fasts over several years based on one’s ability. However, if a person passes away before completing the make-up fasts, the heirs must fast on their behalf or feed one needy person for each missed day.
If the fasting was broken without a valid excuse, one must hasten to make it up. Should the person die before completing the make-up fasts, the heirs must either fast or feed the needy on their behalf. As for the expiation, it is calculated after completing all the make-up fasts. And Allah Knows Best.