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Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

Resolution No.(66): “Ruling on Benefiting from the World Bank`s Grant Presented to the Ministry of Social Affairs“

Date Added : 02-11-2015

Resolution No.(66): "Ruling on Benefiting from the World Bank`s Grant Presented to the Ministry of Social Affairs“

Date: 16/5/1424AH, corresponding to 16/7/2003AD

 

The Board received the following question:

What is the ruling of Sharia as regards benefiting from the grant presented to the Ministry of Social affairs by the World Bank?

Answer: All success is due to Allah, The Lord of The Worlds.

After careful study and deliberation, the Board deems that it is permissible to benefit from the World Bank`s grant within the outline proposed by “Questscope“, provided that the loans given to the beneficiaries have zero-interest.

Moreover, it is permissible that a Zakat committee from Amman area, or else takes charge of possessing and running credit funds in accordance with the rules of Islamic Sharia. And Allah Knows Best.


Iftaa` Board
Chairman of the Iftaa` Board, Chief Justice, Izz Al-Deen Al-Tamimi
               Dr. Mohammad Abu Yahia     

   Dr. Ahmad Hilayil      

                Sheikh Mahmoud Shwayyaat

    Dr. Yousef Gheezaan

Dr. Wasif Al-Bakhri

  Sheikh Saeid Hijjawi

     Sheikh Naeim Mujahid

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Summarized Fatawaa

Should one fulfill his vow of donating an animal to the poor and needy with one sheep although he had repeated the vow several times?

Each vow has to be fulfilled, and repeating the words of the same vow for confirmation renders its fulfillment obligatory as one vow. As for multiple vows, they have to be fulfilled as well.

I have 490 shares in a commercial company, and they have been held for a year. The price of each share is one dinar, noting that the shares are at a loss. I want to know the amount of zakat due on them?
 
 
 
 
 

Commercial shares are subject to zakat based on their current market value, even if they are at a loss. The zakat rate is 2.5%. And Allah Knows Best.

Is Lease-to-own through Islamic Bank Permissible?

Lease-to-own is a controversial issue among  contemporary Muslim scholars; we (Iftaa Dept.) advise you and in order to be on the safe side to conclude this sale transaction through Murabaha contract. And Allah Knows Best.

Should the Zakah (obligatory charity) giver tell the poor recipient that this is the Zakah of his money?

No, he shouldn`t. But, the Zakah giver should make an intention in his heart that it is the Zakah of his money when paying it to the poor. And Allah Knows Best.

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