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 one who performs ablution or the ritual bath while having nail polish?

Nail polish must be removed before ablution or ritual bath so that water reaches what is beneath it, because it is a barrier that prevents water from reaching that area. This is based on the hadith narrated by Ali (may Allah be pleased with him) from the Prophet (peace be upon him): "Whoever leaves a hair's breadth of his body unwashed from major impurity, such and such will be done to him in the Fire." (Reported by al-Bukhari). And Allah the Almighty knows best.

Is it obligatory for someone traveling by plane in the afternoon during Ramadan to fast?

Anyone who intends to travel after dawn must begin the day fasting and continue with the intention of completing their fast, as fasting was obligatory upon them before traveling.
However, if they experience unbearable hardship after starting their journey, they are permitted to break their fast due to that hardship, not merely because of travel. In such a case, they must make up for the missed fast later.

What is the ruling on eating or drinking forgetfully during the day in Ramadan or during voluntary fasting?

Whoever eats or drinks forgetfully while fasting, whether in an obligatory or voluntary fast, should continue their fast, for it is Allah who has provided them with food and drink. There is no difference between obligatory and voluntary fasting in this ruling.

Is it permissible for a menstruating woman to recite the Quran from the computer without actually touching the Quran?

It is not permissible for a woman in her menstrual period, or in postpartum to recite the Quran, even by heart, or without actually touching the Quran itself. Recitation itself is what is prohibited on her regardless of how it is done. However, it is permissible for her to surf through the Quran by her eyes, or to recall it in her head without uttering the words. There is no harm for her to look at the Quranic verses on the computer without touching it, or to utter the words as this is called looking not reciting or reading.