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

Decision Number [ Previous | Next ]


Summarized Fatawaa

What is the ruling of Islamic Law on continuity (muwalah) in the ritual bath?

All praise is due to Allah, and peace and blessings be upon our master the Messenger of Allah ﷺ.
Continuity (muwālāh) means washing each part of the body immediately after the previous one, without leaving a gap long enough for the first part to dry before the second is washed. According to the Shāfiʿī school, continuity is a recommended act (sunnah) in both the ritual bath (ghusl) and ablution (wuḍūʾ) — it is not obligatory.
It is stated in Nihāyat al-Muḥtāj ilā Sharḥ al-Minhāj: "Likewise, continuity in the ritual bath is recommended, just as it is in ablution."
Accordingly, continuity in the ritual bath is a sunnah. And Allah the Almighty knows best.

Is it permissible to slaughter a sheep on Eid al-Adha with the intention of charity (sadaqah) on behalf of a sick person, and with the intention of udhiyah (sacrificial animal) at the same time?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
The udhiyah (sacrificial animal) is an act of worship intended for its own sake; therefore, it must be slaughtered with the intention (niyyah) of udhiyah.
 
Whoever intends to draw closer to Allah through this act of obedience with the intention of udhiyah, and also intends to gift the reward to another person, there is no Islamic objection to that. And Allah Almighty knows best.

What is the ruling of Islamic Law on following the actions of the imam in prayer and how this following is achieved?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
The follower (ma'mum) is required to follow his imam in the actions of the prayer. This "following" (mutaba'ah) means that the follower performs each action of the prayer after the imam has begun it but before he has finished it. For example, the follower bows (in ruku') after the imam has reached the position of bowing, then rises after the imam has risen. The Prophet, peace and blessings be upon him, said: "The imam is only appointed to be followed, so when he says the takbir, say the takbir; and when he bows, then bow; and when he prostrates, then prostrate" (agreed upon, i.e., reported by both al-Bukhari and Muslim).
It is stated in Mughni al-Muhtaj (1/505): "Among the conditions of valid congregational prayer (iqtida') is following the imam in the actions of the prayer... meaning that following the imam is obligatory in the physical actions of the prayer, not in its verbal utterances... Complete following (kamal al-mutaba'ah) is achieved when the follower's beginning of an action comes after the imam's beginning of that same action, while the follower's beginning of the action precedes the imam's completion of it" — end of quote, with slight paraphrasing.
And Allah, the Exalted, knows best.

What is the ruling on fasting only on Friday, Saturday, or Sunday?

In voluntary fasting (nafl), it is disliked (makruh) to fast only on Friday, Saturday, or Sunday.
However:
● If one fasts a day before or after Friday, then that is permissible.
● The same applies to Saturday and Sunday—fasting them along with another day removes the dislike.
● Fasting all three days (Friday, Saturday, and Sunday) together is not disliked.
If any of these days coincide with a recommended fasting day, such as Arafah or Ashura, then fasting it alone is not disliked.