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 incumbent on a husband to pay the alimony of his wife if she had left him and stayed at her parent`s without his permission?

When a wife leaves her house, and stays at her parent`s without asking her husband, she is considered a Nashiz (wife who refuses to abide by her husband’s orders), and so she doesn`t deserve an alimony.

What is the ruling on bypassing a nearby mosque for a distant one?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
If a distant mosque has a larger congregation (Jama‘ah) while the congregation in the nearby mosque is smaller, and the congregation in the nearby mosque is not adversely affected by the worshiper's absence, then it is better for him to pray in the distant mosque with the larger congregation. However, if the congregation in the nearby mosque would be affected by his absence—such as if he is its Imam, or if his presence encourages others to attend—then praying in the nearby mosque is better. This ensures that the congregation is established in two different locations within the community. This is based on the saying of the Prophet ﷺ: 'A man's prayer offered with another man is purer than his prayer which he offers alone, and his prayer with two men is purer than his prayer with one and if they are more (in number), it is more beloved to Allah, the Mighty the Majestic' (Narrated by Ahmad, Abu Dawood, and An-Nasa'i). And Allah the Exalted knows best.

Is it permissible for a mother to stop her daughter from marrying a respectable, God-fearing young man because he isn't college/university graduate?

It is impermissible to deny a woman her right in getting married except for a lawful reason, and problems can be solved through dialogue. However, she can file a suit in order for the judge to have a say in that regard.

What are the valid excuses for abstaining from congregational prayer in the mosque?

 
Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Concessions (Rukhsah) are granted to abstain from congregational prayer in the mosque due to general excuses, such as: rain that causes hardship in going out, strong winds at night, heavy mud that cannot be traversed without the risk of soiling oneself, hot winds, and extreme heat or cold. There are also specific individual excuses, such as: illness that makes walking as difficult as walking in the rain, severe drowsiness, evident hunger or thirst, the suppression of bodily wastes (urine, stool, or gas), and fear for one's life, limb, physical faculty, wealth, or honor, among other valid excuses. And Allah the Exalted knows best.