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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

How does a praying person prostrate?

All perfect praise be to Allah,The Lord of The Worlds                                                                                                                                                                        It is from Sunnah that he/she sits with both knees on the ground in order to prostrate, then hands, nose and forehead are placed on the same place. In addition, the toes have to touch the ground, and be directed towards the Qiblah (direction of Ka`bah) during prostration. And Allah Knows Best.

What is the ruling on a person who isn`t able to fast due to old age, or an incurable disease?

Paying the ransom is due on such a person, and that is giving a Mud (600 grams) of wheat, or rice, or the price of that amount to a needy Muslim for each missed fasting day. And Allah Knows Best.

Is it permissible for a young lady to wear a short skirt, which is above her knee, over pants?

All perfect praise be to Allah, the Lord of the worlds. I testify that there is none worthy of worship except Allah and that Muhammad, sallallahu ‘alayhi wa sallam, is His slave and Messenger.
In Islam, it isn`t permissible for a woman to wear garment revealing her beautiful shape and arousing men`s sexual desire. This is whether the garment is transparent or skin-tight showing the size of her private parts. A Muslim woman`s garment must be loose and not revealing since she will be accountable for this before Allah The Almighty on the Day of Judgement. And Allah The Almighty Knows Best. 

Is the son of the sister by breastfeeding considered a mahram in Islam, and is it permissible for a woman to go for Hajj with him?

Everything that is prohibited by lineage is also prohibited by breastfeeding. The son of the sister by breastfeeding is considered a mahram, just like the son of the sister by blood, and it is permissible for him to be her mahram for Hajj and Umrah. And Allah Knows Best.

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