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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 is the ruling of Islamic Law on continuity (muwalah) in the ritual bath?

All praise is due to Allah, and peace and blessings be upon our master the Messenger of Allah ﷺ.
Continuity (muwālāh) means washing each part of the body immediately after the previous one, without leaving a gap long enough for the first part to dry before the second is washed. According to the Shāfiʿī school, continuity is a recommended act (sunnah) in both the ritual bath (ghusl) and ablution (wuḍūʾ) — it is not obligatory.
It is stated in Nihāyat al-Muḥtāj ilā Sharḥ al-Minhāj: "Likewise, continuity in the ritual bath is recommended, just as it is in ablution."
Accordingly, continuity in the ritual bath is a sunnah. And Allah the Almighty knows best.

Is it permissible for the mother to give her children from the Zakah (obligatory charity) of her money?

It is permissible for the mother to give her children from the Zakah of her money if they are Zakah-eligible recipients, and she isn`t obliged to provide for them.

Is it permissible to divide one mudd of fidyah between two people?

No, it is not permissible to divide one mudd between two people, because it would not count as a full meal for either of them.

What is the ruling on sacrificing a hornless sheep?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is valid to sacrifice a hornless sheep (al-Jamma’ or al-Jalha’). Similarly, a sheep with a broken horn is also acceptable; it does not affect the validity of the sacrifice even if the break causes bleeding, unless the injury is so severe that it leads to the spoilage of the meat. And Allah the Almighty knows best.

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