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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 are the conditions of the Aqeeqah?

The animals that are acceptable to be slaughtered for 'Aqeeqah are the same which are acceptable to be slaughtered for the sacrifice of 'Eed in terms of their age and lack of defects. The sheep should be one year old, and its teeth should have fallen off. As for goats and cows, they should have finished two years of age and entered into the third. The Aqeeqah should be free of any defects as regards meat, or price value.

How does one with a continuous condition (like urinary incontinence or non-menstrual vaginal bleeding - mustahada) perform ablution?

A person with a continuous condition must do three things:
1. Not perform ablution except after the prayer time has entered.
2. Change the bag or diaper placed to reduce the flow of urine or blood after the prayer time enters, wash the private part from blood or urine, and perform ablution immediately.
3. Perform the actions of ablution in immediate succession, then pray immediately without delay, unless he intends to pray with the congregation.
It is not permissible for a person with a continuous condition to combine two obligatory prayers with one ablution, as he must perform ablution for each obligatory prayer, even if making it up (qada'). And Allah the Almighty knows best.

If a father stops his daughter from getting married, is it permissible for her to conclude the marriage contract herself?

It is permissible for the father to stop his daughter from getting married if there was a lawful reason for that, and she isn`t allowed to conclude the marriage contract without her guardian. However, if her father denied her right in getting married for an unlawful reason, then she should go to court.

How to pay Zakah (obligatory charity) due on articles of merchandise?

Articles of merchandise are estimated by their whole sale market price at the end of each lunar year, and (2.5%) of their value is paid as Zakah whether it (value) went up, or down compared to actual purchasing price, and whether the increase (profit) was in the article itself such as an increase in the animal`s weight, or in the prices themselves. And Allah Knows Best.

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