Resolutions of Iftaa' Board



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 someone who prays but does not fast, without a valid excuse?

Fasting is one of the pillars of Islam, and a Muslim's faith is incomplete if they neglect the obligation of fasting while being physically capable of observing it.

What is the ruling on using moisturizing creams on the skin during the day in Ramadan?

Using moisturizing creams on the skin does not break the fast because they do not enter the body cavity (jauf). Any absorption that occurs through the skin pores does not count as entering through an open passage.

What should a person, who doubts the validity of his Wudu, or over performs it, do?

One who doubts the validity of his/her Wudu while performing it should redo it until he/she is certain of having attained purity. But, if doubt was after having performed Wudu, then he/she should not pay attention to that as doubt after the end of an act of worship does not count. This is of course in case doubt was within the reasonable limits since once it goes beyond that, it becomes a whispering of the Shaytaan (devil) which he/she should ignore as the Wudu is valid.

What are the Sunnahs and etiquettes related to the slaughtering of an animal?

 

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
1-The animal should not be terrified or frightened before it is slaughtered.
 
2-An animal should not be slaughtered in front of other animals.
 
3-It is recommended to offer water to the animal before it is slaughtered.
 
4-The knife must be sharpened before the slaughter to ensure that the esophagus, trachea, and jugular veins are severed as quickly and cleanly as possible. This is based on the Prophet’s (peace be upon him) saying: "Verily, Allah has prescribed Ihsan (excellence/proficiency) in all things. So, if you kill, kill well; and if you slaughter, slaughter well. Let each one of you sharpen his blade and let him spare the animal unnecessary suffering." [Narrated by Muslim].
 
5-One must not begin skinning or butchering the animal until its death has been fully confirmed.
 
6-Cows and Sheep: It is best to slaughter them while they are lying on their left side, facing the Qiblah. The right hind leg should be left untied so the animal can move it, which helps it remain more comfortable during its final moments. Unlike other livestock, it is preferred to perform Nahr (slaughtering by a swift stab at the base of the neck) while the camel is standing, with its left knee tied. And Allah the Almighty knows best.