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

I read the Qudsī ḥadīth: "Whoever breaks his wuḍūʾ and does not perform ablution has shown me harshness; whoever performs ablution and does not pray has shown me harshness; whoever prays and does not supplicate to Me has shown me harshness; and whoever supplicates to Me and I do not answer him, then I have been harsh to him, and I am not a harsh Lord." What is the authenticity of this ḥadīth?

 

 

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah.
This ḥadīth was mentioned by al-Ṣaghānī (may Allah have mercy on him) in al-Mawḍūʿāt (p. 43), where he said: “Among them is their saying: ‘Whoever breaks his wuḍūʾ and does not perform ablution has shown me harshness; whoever performs ablution and does not pray has shown me harshness; (whoever prays and does not supplicate to Me has shown me harshness); and whoever supplicates to Me and I do not answer him, then I have been harsh to him, and I am not a harsh Lord.’”
Al-ʿAjlūnī (may Allah have mercy on him) cited what al-Ṣaghānī said in Kashf al-Khafāʾ (Vol.2/p.264). And Allah Almighty knows best.

What is the ruling on discharges two or three days before the expected period of menstruation and the light-colored blood accompanying it? Must the woman abstain from prayer during this period?

If the total duration of these blood-tinged discharges reaches a day and a night (24 hours) or more, it is considered menstruation. If their total does not exceed 24 hours, it is not considered menstruation but is irregular bleeding (dam al-fasad). Each woman has specific cases for which she should ask the scholars. And Allah the Almighty knows best.

What is the ruling on the prayer of one who said "Subḥāna Rabbiya al-ʿAẓīm" in prostration (*sujūd*) and forgot to correct it?

 

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah.
Saying “Subḥāna Rabbiya al-ʿAẓīm” in bowing (rukūʿ) and “Subḥāna Rabbiya al-Aʿlā” in prostration (sujūd) is one of the hayʾāt (non-essential sunnahs) of the prayer. Whoever omits it, whether deliberately or by forgetfulness, or replaces it with another remembrance (dhikr), his prayer is valid and he does not perform sujūd al-sahw. Shaykh al-Islām Imam al-Nawawī (may Allah have mercy on him) said: “Our school holds that one does not prostrate for omitting the audible or silent recitation, the tasbīḥ, and the rest of the hayʾāt.” [al-Majmūʿ, Vol.4/p.127]
If he performs sujūd al-sahw for something that does not call for it, his prayer is invalidated, because he introduced a prostration of forgetfulness without a cause, and he must repeat the prayer. The exception is one who did so out of forgetfulness or ignorance, whether because he recently entered Islam or because he lives far from scholars; he is excused and his prayer is not invalidated.
It is stated in Mughni al-Muḥtāj (Vol.1/p.417): “It is stated in al-Anwār: If he does something that does not call for sujūd al-sahw, thinking that it does, and then prostrates, his prayer is not invalidated if he is ignorant because he recently entered Islam or because he is far from scholars.”
Since this issue is hidden from the laity, as it is among the subtleties of knowledge, and the laity are excused for ignorance of whatever is of such a nature, and their act of obedience is not invalidated because of it, it may be said that the prayer of one who has not acquired knowledge of the issue is not invalidated. As for after knowing it, the prayer is invalidated.
Whoever realizes while still in the prayer that his prostration was out of place, it is sunnah for him to perform sujūd al-sahw. And Allah Almighty knows best.

What is the ruling on someone who dies while having missed fasts?

● If a person dies before having the opportunity to make up the missed fasts—such as someone whose excuse (e.g., illness) persisted until their death—then no makeup fast (qada), fidyah, or sin applies to them.
● However, if they had the ability to make up the fasts but did not do so before passing away, the missed fasts must be compensated by giving a mudd of food for each missed day from their estate.
The Prophet ﷺ said: "Whoever dies while having a month’s fast due, one needy person should be fed per day on their behalf." [Narrated by At-Tirmidhi]
Additionally, a guardian (wali) may fast on their behalf, as the Prophet ﷺ said: "Whoever dies while having missed fasts, their guardian should fast on their behalf." [Narrated by Al-Bukhari and Muslim]
In another narration: "If they wish." This indicates that both feeding the needy and fasting on behalf of the deceased are permissible options.