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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`s the ruling on using the following materials in manufacturing cosmetics: olive oil, Vaseline, talc powder, glycerin, honey, almond oil, pine oil, galingale and marjoram?

All perfect praise be to Allah, The Lord of The Worlds, and may His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.                                                                                                                                                                                                                                    None of the above materials is forbidden, and it`s lawful to use them in manufacturing products that are beneficial to people. This is because, in principle, all things are lawful so long as there is no evidence in Sharia indicating otherwise. And Allah Knows Best.

What is the ruling on memorizing the Quran during menstruation, knowing that I do not read directly from the Quran but from a paper or from my phone?

It is not permissible to memorize the Quran during menstruation because memorization requires repetition, and a menstruating woman cannot touch the physical pages of the Quran. Similarly, if the Quranic verses appear on the screen of the phone, it is considered like touching the Quran. And Allah Knows Best.

What is the ruling on the unification of Adhan?

 All perfect praise be to AllahThe Lord of The Worlds, and may His peace and blessings be upon our Prophet Muhammad and upon all of his family and companions.                                                                                                                                                                                                                                  The unified Adhan is an act of Sunnah performed on behalf of a city's population. In addition, any Masjid that doesn’t have a Mua'than (The person who calls for prayers) and doesn`t raise the Adhan misses the reward of this great act. This is because Adhan should be raised for every group of people. However, the unified Adhan should be called in one Masjid and heard through all other Masjids. And Allah Knows Best.

Should the father command his ten-year-old daughter to wear the Islamic dress?

All perfect praise be to Allah, The Lord of The Worlds, and may His Peace and Blessings be upon our Prophet Muhammad and upon all of his family and companions.

The father should order his daughter to put on the Islamic dress once she turns ten, in order for her to get used to it. And Allah Knows Best.

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