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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

In the last verse of Surah At-Tin, Allah Says (What means): "Is Allah not the most just of judges?" [At-Tin/8]. Is it permissible for us, while performing congregational prayer, to respond after the Imam recites it by saying: "Indeed, and I am among those who bear witness to that." ?

It is recommended for the worshipper to say 'Indeed' (Bala) silently after reciting or hearing the verse (/What means): "Is Allah not the most just of judges?" [At-Tin/8]. This is part of reflecting on the Quran during its recitation or listening, as Allah Says (What means): "Then do they not reflect upon the Quran, or are there locks upon [their] hearts?" (Muhammad: 24). Doing so helps in achieving humility and focus in prayer. And Allah Knows Best

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 combining prayers at the Musala (Place for prayer) of a shopping center because of heavy rain, knowing that some people come from outside that center?

Praise be to Allah, the Lord of the Worlds.

If there is hardship in going back to that Musala at the time of Asr or Isha` prayers, then it is permissible to combine prayers in twos only (Duhr with Asr and Maghrib with Isha`). Kindly consider calling us. And Allah Knows Best.

 Should a person who doesn’t offer Tasbeehb (saying Subhaana Rabbiya Al-‘Atheem during Rukoo`, and saying Subhaana Rabbiya Al-A‘laa during Sujood) during Rukoo` and Sujood perform As-Sahw Sujood (prostration of forgetfulness)?

He/ she doesn`t have to perform Sujood As-Sahw, whether he/she didn`t offer Tasbeeh during Rukoo` and Sujood either intentionally ,or unintentionally, provided that the attentiveness of the heart wasn`t undermined since it is a pillar in both.

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