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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

Is it permissible to include others in the reward of one`s sacrifice?

 

Praise be to Allah, and prayers and peace be upon our Master the Messenger of Allah.
 
It is permissible for the one offering a sacrifice (al-muḍaḥḥī) to include another person in the reward of the sacrifice, but it is not permissible for them to share in the price of the sacrifice. It is stated in Mughnī al-Muḥtāj (Vol.6/P.137) by al-Khaṭīb al-Shirbīnī: "If he includes another in the reward of his sacrifice and slaughters it on his own behalf, it is permissible." And Allah Almighty knows best.

Is it permissible to participate in an Udhiyah?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
Regarding the sacrificial offering (Udhiyah), if it is a sheep or a goat, it only avails for one person. However, if it is a cow or a camel, it avails for seven people. It is permissible for the seven participants to have different intentions; for example, some may intend the sacrifice (Udhiyah), some the ’Aqiqah (sacrifice for a newborn), and others may simply intend to obtain meat.
 
It is stated in Hashiyat Qalyubi ‘ala Sharh al-Mahalli (Vol.4/P.256) and in Bushra al-Karim (p. 706):
 
"If one slaughters a camel or a cow on behalf of seven... it is permissible. Likewise, it is permissible if some of them intend their seventh for meat, and others intend their seventh for ’Aqiqah." And Allah the Almighty knows best.

What are the Sharia consequences when the sacrificial time for the uḍḥiyyah comes to an end?

 
 
 
 
 
 

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
If the sun sets at the end of the last of the Days of Tashrīq and the sacrificial animal (uḍḥiyyah) has not yet been slaughtered, then its prescribed time has elapsed. Should one slaughter it thereafter, it will not be considered a valid uḍḥiyyah.
However, if the sacrifice was vowed (mandhūrah), then it remains obligatory to slaughter it — and it shall be carried out as a make-up (qaḍā') of the vow, with its meat distributed in the rightful channels designated for such sacrifices.
It is stated in Bushrā al-Karīm (p. 702): "If one slaughters after the sunset of the last of the Days of Tashrīq... it isn`t considered a valid uḍḥiyyah, unless it was vowed — in which case it is carried out as qaḍā'."
And Allah Almighty knows best.

Does smoking break the fast?

Yes, smoking breaks the fast because smoke particles intentionally enter the lungs, which are considered part of the body cavity (jauf).

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