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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

I can`t afford to get married, what should I do to curb my sexual drives?

You should offer a lot of voluntary fasting, keep busy with useful and permissible acts and make supplication to Allah, The Exalted.

What husband's stand should be, if his wife disagrees with his mother?

Both the mother and the wife have rights on you (Questioner); therefore, you are obliged to treat both justly, resort to wisdom to please both and intiate reestablishing cordial relations among them. And Allah Knows Best.

How should a woman make up prayers that she missed two days from delivery?

All perfect praise be to Allah,The Lord of The Worlds                                                                                                                                                                        It is prohibited to delay prayer beyond its prescribed fixed time, therefore, the woman in question is obliged to make up missed prayers after delivery and confinement i.e. once she becomes ritually pure. And Allah Knows Best.

Is it permissible to slaughter one animal as a sacrifice and an Aqeeqah (the sheep slaughtered on the seventh day from the child`s birth)?

It is impermissible to do so since each of them is slaughtered for a different reason.

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