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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 ruling on someone who insults or deceives others while fasting?

Insulting or deceiving others is forbidden (haram) and diminishes the reward of fasting.
The Prophet ﷺ warned against deception, saying: "Whoever deceives is not one of us." [Narrated by Al-Tirmidhi]
However, their fast remains valid despite the sin.

Is it recommended (mustaḥabb) for the one offering  a voluntary sacrifice (uḍḥiyyat taṭawwuʿ) to eat from its meat?

Praise be to Allah, and prayers and peace be upon our Master the Messenger of Allah.
 
It is recommended (mustaḥabb) — not obligatory — for the one offering a voluntary sacrifice (uḍḥiyyat taṭawwuʿ) to eat from it. Allah Almighty says {what means}: "So eat from them and feed the desperate (qāniʿ) and the beggar (muʿtarr). Thus We have subjected them to you that you may be grateful."— [Sūrat al-Ḥajj (22): 36]
 
Explanation of terms:
 
Al-Qāniʿ — the poor person who does not ask people for money, food..eccetera.(beg)
 
Al-Muʿtarr — the poor person who does ask people for money, food..eccetera (begs)
 
And Allah Almighty knows best.

What is the ruling on discharges two or three days before the expected period of menstruation and the light-colored blood accompanying it? Must the woman abstain from prayer during this period?

If the total duration of these blood-tinged discharges reaches a day and a night (24 hours) or more, it is considered menstruation. If their total does not exceed 24 hours, it is not considered menstruation but is irregular bleeding (dam al-fasad). Each woman has specific cases for which she should ask the scholars. And Allah the Almighty knows best.

Is it permissible to eat from an Udhiyah slaughtered on behalf of a deceased person?

Praise be to Allah, and prayers and peace be upon our Master the Messenger of Allah.
 
It is permissible to eat from the sacrifice (uḍḥiyyah) that is offered on behalf of a deceased person. This is the madhhab (school of thought) of the Hanbalis. In this case, the heirs take the place of the deceased as if he were alive, with the same rights to eat from it, give it in charity, and offer it as a gift.
 
It is stated in Maṭālib Uli al-Nuhā (Vol.2/P.472): "Offering a sacrifice on behalf of a deceased person is better than offering one on behalf of a living person, because the deceased is unable (to perform deeds) and is in need of reward. It is to be treated like a sacrifice on behalf of a living person in terms of eating, giving charity, and giving gifts." And Allah Almighty knows best.

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