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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

The supplication: "O Allah, we do not ask You to avert the decree, but we ask You for kindness in it." Is this Supplication Halal or Haram?

We are obliged to supplicate Allah, so when supplicating we comply with Allah's Ordainments, and making supplications that are reported in the authentic texts is better. And Allah Knows Best. 

Is it permissible to pray with a heater (stove) in front of me?

There is no harm in praying with a heater in front of you, as long as you do not intend to venerate the fire or imitate those who worship it. And Allah Knows Best.

After our father had passed away, my brother and I stayed with our mother for twenty years and served her to the best of our effort. However, she asked our other brothers (3) to support her financially but they refused to pay her anything. As a result, she gave her share of the inheritance to me and my brother. What is the ruling of Sharia on this?

All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
It is recommended to give one`s children, males and females, equally. However, your mother is allowed to give one of them more than the others because he/she is needy or more dutiful to her than the others. And Allah The Almighty Knows Best.  

Is it permissible for a wife to leave her house without obtaining the permission of her husband, and not to come back unless he divorces her co-wife?

It is forbidden for the wife to leave without obtaining her husband`s permission, and it is impermissible for her to ask him to divorce her co-wife as this inflicts harm on the latter and such an act is forbidden in Islamic law.

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