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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 to read from the Mus-haf during Tarawih prayer?

Yes, it is permissible to read from the Mus-haf during Tarawih prayer, provided that excessive movements that invalidate the prayer are avoided.
However, it is preferable for the imam to be a memorizer of the Quran and to recite from memory.

What is the Islamic punishment for the one who neglects prayer?

 

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Neglecting the prayer (Salah) is among the major sins (Al-Kaba’ir). One who neglects it out of laziness is considered a transgresor (Fasiq), while one who neglects it while denying its obligation is a disbeliever (Kafir). And Allah the Exalted knows best.

What is the ruling on someone who eats or drinks thinking that the night is still present, then realizes that dawn has broken?

Whoever eats or drinks thinking that the night is still present, then later discovers that dawn has broken, must refrain from eating and drinking for the rest of the day out of respect for the sacred month. However, they must make up that day after Ramadan, and there is no sin upon them.

What does (Whoever fasts Ramadan with faith and seeking reward) mean?

This phrase is part of a hadith in which the Prophet ﷺ said:
"Whoever fasts Ramadan with faith and seeks his reward from Allah, their past sins will be forgiven." [Agreed upon]
The meaning is:
● They fast Ramadan with firm belief that Allah has made it obligatory.
● They fast out of obedience to Allah, knowing they will meet Him.
● They hope for reward from Allah and fast purely out of their faith while seeking His reward.

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