Resolutions of Iftaa' Board



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

Is it permissible for a young man and a young woman to enter into a covenant as a married couple without having a true seclusion (Khalwah) until their marriage contract is officially concluded?

The relation which isn`t based on a marriage contract is forbidden, and entering into a covenant as a married couple is unaccounted for and is from the evil suggestions of the devil.

Is it permissible for a woman to shake hands with her brother-in-law?

It is forbidden for the woman to shake hands with her brother-in-law because he isn`t a Mahram (unmarriageable) of hers.

What is the ruling on Friday Ghusl (ritual bath)?

Friday Ghusl is a confirmed Sunna (Prophetic tradition) even if a person wasn`t in a state of Janbah (ritual impurity), or physically unclean. However, one who doesn`t make Ghusl on Friday isn`t sinful for the Prophet (PBUH) said: "It is good for a Muslim to make ablution for Friday prayer, but it is better to make Ghusul. [At-Tirmithi & Abu Dawood].

What is the ruling of Islamic Law on eating or drinking during the circumambulation?

All praise is due to Allah, and peace and blessings be upon our master the Messenger of Allah ﷺ.
It is disliked (makrūh) to eat or drink during the circumambulation (ṭawāf).
Shaykh al-Islām Imām al-Nawawī states in al-Majmūʿ: "It is disliked to eat or drink during ṭawāf, and the dislikedness of drinking is lighter. Neither of them, nor both together, invalidates the ṭawāf. Al-Shāfiʿī said: 'There is no objection to drinking water during ṭawāf, and I do not consider it sinful; however, I prefer that it be avoided, as refraining from it is more befitting in terms of proper conduct.' Among those who explicitly stated the dislikedness of eating and drinking, and that drinking is the lesser of the two, is the author of al-Ḥāwī."
If, however, a person is in genuine need of drinking, then there is no dislikedness in doing so. In any case, the ṭawāf itself remains valid. And Allah the Almighty knows best.