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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

What is the amount of food to be given to a needy person for fidyah and kaffarah?

The amount of food to be given to a needy person is 600 grams of wheat or rice.
According to the Hanafi school, it is permissible to give the monetary equivalent instead, and this is the ruling issued by the General Iftaa` Department.

What is the ruling on ablution if vaginal discharge is expelled, and is it impure?

If these discharges exit from the external genitalia (apparent part of the vagina), they are not impure and do not invalidate ablution. If they exit from the internal part, they are impure and do invalidate ablution. If it is uncertain whether they are from the internal or external part, they are not impure and do not invalidate ablution.
 
The apparent part is what becomes visible when sitting, and what the husband's penis reaches during intercourse is considered part of the apparent. The internal part is what is beyond that. And Allah the Almighty knows best.

Do wounds and bleeding during the day in Ramadan break the fast?

If a wound results in something entering the body cavity (jauf), such as blood or an external object, then the fast is invalidated.
However, external wounds and bleeding do not break the fast, unless they cause something to enter the body cavity.

What is the ruling on performing istinja' with perfumed tissues or a tissue moistened with water?

Performing istinja' with perfumed or moistened tissues is not sufficient if they are not dry, due to the moisture on them reaching the impurity, which increases its spread rather than reducing it. Then, to remove the impurity, one must use pure water. And Allah the Almighty knows best.

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