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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 if a postpartum woman becomes pure before forty days; are acts of worship obligatory upon her, and is she permissible for her husband?

If the postpartum woman becomes definitely pure before forty days, she must perform the ritual bath and perform acts of worship as a pure woman does. What was prohibited for her also becomes permissible, so she becomes permissible for her husband after her bath. The minimum duration for postpartum bleeding is a moment (an instant), and its usual maximum is forty days. Reaching forty days is not a condition; rather, it is sufficient for the blood to stop or to see the white discharge (qassa bayda'). And Allah the Almighty knows best.

When does the time for the Fajr prayer begin?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
The time for the Fajr prayer begins once the Mu’adhin starts the second Adhan (Al-Adhan al-Thani), and not after the first Adhan. And Allah the Exalted knows best.

Is Zakat al-Fitr obligatory for an unborn child (fetus)?

Zakat al-Fitr is not obligatory for a fetus. However, if the child is born before sunset on the last day of Ramadan, then Zakat al-Fitr must be given on their behalf.

Is it permissible to offer an Udhiyah on behalf of another without their permission?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is not permissible for a person to offer a sacrifice (Udhiyah) on behalf of someone else without their permission, except in the following cases: if he sacrifices on behalf of the members of his household, if a guardian sacrifices from his own wealth on behalf of his ward, or if the Imam (ruler) sacrifices from the public treasury (Bayt al-Mal) on behalf of the Muslims. And Allah the Almighty knows best.

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