Resolutions of Iftaa' Board



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

What is the ruling on seeking forgiveness between the two Friday sermons?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible to seek forgiveness (Istighfar) between the two Friday sermons (Khutbatayn), and it does not invalidate the Friday prayer (Salat al-Jumu'ah). Furthermore, it is not disliked (Makruh) to speak before the sermon, after it, or between the two sermons. Likewise, it is not disliked for one who enters during the sermon to speak if there is a need for it, provided he has not yet taken a place and settled into it. And Allah the Exalted knows best.

Is it permissible for a wife to leave her house without asking her husband?

It is impermissible for the wife to leave her house without asking her husband except for a sound reason.

What is the ruling on offering an Udhiyah on behalf of another with their permission?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is permissible for a person to offer a sacrifice (Udhiyah) on behalf of someone else with their permission, even if the person performing it has not offered a sacrifice for themselves. It is stated in Sharh Manhaj al-Tullab (Vol.5/P.261) by Zakariya al-Ansari: "No one may offer a sacrifice on behalf of another without their permission... as opposed to when permission has been granted." And Allah the Almighty knows best.

What is the ruling of Islamic Law on one who died owing debts and left no wealth? Is it obligatory upon the heirs to settle these debts?

 

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah.
The general rule is that if a person dies owing rights to other people, such as debts, these are settled from his estate, if he left any wealth, before the estate is divided. The Prophet (peace and blessings be upon him) said: “The believer's soul is suspended by his debt until it is settled for him.” Graded ḥasan by al-Tirmidhī. Repayment of debts takes precedence over the heirs’ right to inheritance.
If the deceased left no estate, or left wealth that was insufficient to cover his debts, it is not obligatory for the heirs to pay from their own wealth, but it is recommended for them to do so, because the deceased’s dhimmah (legal liability) remains occupied by the debt. It is reported in some narrations that he remains held in suspension until his debt is paid, and it is not part of filial righteousness for a child to leave his father’s dhimmah burdened with debt.
All of the children may contribute to settling the debt on behalf of their father and cooperate in doing so, even in installments, according to their ability. And Allah Almighty knows best.