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Resolutions of Iftaa' Board

Resolution No.(68): “Ruling on Investing and trading in Stocks of Public Shareholding Companies“

Date Added : 02-11-2015

 

Resolution No.(68): “Ruling on Investing and trading in Stocks of Public Shareholding Companies“

Date: 5/8/1424 AH corresponding to 1/10/2003 AD.

 

The Board received the following question:

What is the Ruling of Islamic Sharia on investing and trading in stocks of public shareholding companies?

Answer: All success is due to Allah.

After careful study and deliberation, the Board believes that investing and trading in stocks of public shareholding companies, which deal in illegal business such as trading in wine or producing it, is forbidden, and the same ruling applies to similar companies.

As regards companies that deal in lawful business, which was slightly mixed with that which is unlawful such as dealing in usury, investing in them is permissible, provided that the investors remove the usurious amounts from their profits and give them to the poor and needy Muslims. 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 Na`eim Mujahid

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Summarized Fatawaa

Is it permissible to go to the bathroom wearing a necklace that has the word "Allah" inscribed on it?

All Perfect Praie be to Allah, The Lord of The Worlds, and may His Peace and Blessings be upon our Prophet Muhammad and upon all of his family and companions.

Anything that contains words pertaining to Allah, The Almighty, is desired to be left outside when going to the bathroom, or to be hidden for fear of losing it. And Allah Knows Best.

Is it permissible to perform Tayammum for a month due to a medical condition that requires avoiding water?

Tayammum is permissible so long as the above excuse lasts. And Allah Knows Best.

Is it permissible to donate corneas to Jordan Eye Bank or all the organs via telephone?

All perfect praise be to Allah, The Lord of The Worlds, and may His Peace and Blessings be upon our Prophet Muhammad and upon all of his family and companions.

Corneas donation that is carried out after one's death is permissible by the Board of Iftaa'. Because this procedure is highly sensitive, the donation process

should undergoes to an accredited mechanism. And Allah, The Exalted, Knows Best  

What is the ruling on a person who isn`t able to fast due to old age, or an incurable disease?

Paying the ransom is due on such a person, and that is giving a Mud (600 grams) of wheat, or rice, or the price of that amount to a needy Muslim for each missed fasting day. And Allah Knows Best.

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