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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

Where should a woman following her husband or another man in prayer stand?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
If a single woman prays with a man—whether she is his wife or a non-mahram (Ajnabiyyah)—the Sunnah is for her to stand behind the Imam and be shielded by him. If the Imam is leading both a man and a woman, the man should stand to the Imam's right, and the woman should stand behind the male follower (Muqtadi). In this way, she is shielded from the Imam by the male follower and remains at a distance from the follower and his line of sight. And Allah the Exalted knows best.

What is the difference between Qiyam al-Layl and Tahajjud?

● Qiyam al-Layl refers to any voluntary prayer performed at night, including Tarawih.
● Tahajjud specifically refers to voluntary prayer performed at night after waking up from sleep.
Glad tidings to those who combine both, as numerous Quranic verses and hadiths mention their virtues.
Allah Almighty says {what means}: "And rise from thy sleep and pray during part of the night [as well], as a free offering from thee, and thy Sustainer may well raise thee to a glorious station [in the life to come." [Al-Isra`/79]
The Prophetﷺ said: "Whoever stands (in prayer) during Ramadan with faith and seeking reward, all their past sins will be forgiven." [Agreed upon]

What is the ruling on one who slept while firmly seated on the ground, regarding nullification of ablution?

The default ruling regarding sleep is that it nullifies ablution. An exception to this is one who slept while firmly seated on the ground; his ablution is not nullified by sleep if he wakes up while still firmly seated on the ground. And Allah the Almighty knows best.

What is the ruling on the ablution of one from whom blood exits from his nose or a wound?

Blood flowing from a wound or a nosebleed does not invalidate ablution. However, performing ablution is recommended to avoid scholarly disagreement with those who make ablution obligatory after blood flows. And Allah the Almighty knows best.

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