عربي
Home


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

Decision Number [ Previous | Next ]


Summarized Fatawaa

What are the disliked (makruh) acts of fasting?

● Excessive rinsing of the mouth and nose (during ablution), as it may lead to swallowing water.
● Tasting food or doing anything that may risk breaking the fast.
● Engaging in idle talk, and it is even more emphasized to avoid lying, backbiting, and gossiping.

Who is the one deemed "able" (al-qādir), for whom the uḍḥiyah (sacrificial offering) is sunnah?

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah ﷺ.
The one who is deemed "able" (al-qādir) [to perform the uḍḥiyah, i.e., the sacrifice] is someone who possesses wealth sufficient to acquire the sacrificial animal, over and above what is needed to cover his own living expenses and the living expenses of his wife and children — or of anyone else whose financial support (nafaqah) is legally obligatory upon him — for the day of ‘Eid and the three days of Tashrīq [that follow it], since this is the designated time period for the sacrifice. And Allah, the Exalted, knows best.

Is Fajr (dawn) Sunnah a confirmed one?

All praise be to Allah The Lord of The Worlds                                                                                                                                                                                  Of course, it is a confirmed Sunna which the Prophet (PBUH) used to offer in a regular basis. And Allah Knows Best.

Is Zakah (obligatory charity) due on articles of merchandise even if they were stacked in the merchant`s stores for years?

Yes, Zakah is due on goods even if they were stacked in merchant`s stores for years, in this manner Islam struggle against monopoly.

See More