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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

Which is better in night prayer: long standing (Qiyam) or long prostration (Sujood)?

Long standing (Qiyam) is better in prayer. However, a Muslim should also observe tranquility and composure in their prayer.

What should a person do if they suffer from an incurable illness that prevents them from fasting?

A person who has an illness that is not expected to be cured and prevents them from fasting must feed a needy person one mudd (600 grams) of food (such as wheat or rice) for each missed day instead of fasting.
Allah Almighty says {what means}: "and [in such cases] it is incumbent upon those who can afford it to make sacrifice by feeding a needy person." [Al-Baqarah/184].

Is it permissible to authorize charitable organizations to perform the Udhiyah on one`s behalf?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is permissible to authorize charitable organizations to perform the sacrifice (Udhiyah) on one’s behalf. However, if these organizations undertake the slaughtering for a group of people, those in charge of the slaughtering must maintain lists of the names of those who authorized them. Furthermore, at the time of slaughter, the slaughterer must intend that the specific sacrifice is on behalf of a specific person. And Allah the Almighty knows best.

 
What is the ruling on someone who eats or drinks while uncertain about the arrival of dawn, then later finds out that dawn had not yet broken?

If a person does this, their fast remains valid, as it is confirmed that they ate during the night. Similarly, if someone eats while uncertain and remains unsure whether they ate before or after dawn, their fast is still valid. This is based on the maxim of Sharia Law, which states: "Certainty is not removed by doubt." Certainty, here, is the presence of night, and the doubt concerns the arrival of dawn. Therefore, one relies on certainty and disregards doubt.

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