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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 on kidney dialysis while fasting in Ramadan?

Kidney dialysis breaks the fast because the dialysis fluid is nutritive, as confirmed by medical experts. Additionally, it involves the entry of substances into the body cavity (jauf).
A patient undergoing dialysis must make up for that day after Ramadan. If they are unable to do so, they must pay fidyah by feeding one needy person for each day they missed.

Is the multiplication of reward for prayer in the sanctuaries of Makkah and Madīnah limited to the obligatory prayer, or does it include the voluntary prayer as well?

 

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah.
There is no difference between the obligatory (farḍ) and the voluntary (nafl) prayer in the ḥadīth on the multiplication of reward in the two Sanctuaries (al-Ḥaramayn), because the authentic ḥadīths are unrestricted and general in wording. It is therefore not permissible to restrict or specify them without evidence. Shaykh al-Islām Imam al-Nawawī (may Allah have mercy on him) said: “Our school holds that the superiority of prayer in the two mosques of Makkah and Madīnah is not limited to the obligatory prayer, but includes both the obligatory and the voluntary.” [al-Majmūʿ Sharḥ al-Muhadhdhab, Vol.8/p.476]
The multiplication of reward applies to whoever prays in al-Masjid al-Ḥarām or anywhere within the sanctuary (ḥaram). Al-Shirwānī (may Allah have mercy on him) said: “The more correct view according to al-Nawawī is that the multiplication of the prayer’s reward covers the whole sanctuary, and is not limited to the mosque, nor to Makkah itself.” [Tuḥfat al-Muḥtāj with the glosses of al-Shirwānī and al-ʿAbbādī, Vol.10/p.95]. And Allah Almighty knows best.

Does using a wet miswak while fasting break the fast?

A fasting person should ensure that the miswak is dry when using it.
However, if the miswak is slightly moist but does not release any liquid when squeezed, then its use does not break the fast.

What is the ruling on the prayer of the individual following the imam whose prayer is broadcasted via television?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Among the conditions for the validity of following an Imam (Sihhat al-Iqtida’) is that the Imam and the follower (Ma’mum) must be in the same location. Therefore, the prayer of one who follows an Imam whose prayer is being broadcast via television from a distant location is not valid. However, if the follower is with the Imam in the same mosque, the prayer is valid. And Allah the Exalted knows best.

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