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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

I have asked a marriage official to conclude my marriage since I have no proxy and, being an adult, I can act as the proxy of myself, but he refused. What should I do?

All perfect praise be to Allah the Lord of the Worlds. May Allah`s peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
In order for a marriage to be valid there must be a Wali (Guardian) for the woman: father, brother, paternal uncle or any paternal relative. If there isn`t any, then the judge can act as the woman`s guardian and conclude the marriage contract. And Allah The Almighty Knows Best.

What is the best manner in distributing the meat of the Aqeeqah?

It is better to divide all of it as cooked meat amongst the poor and the needy. Dividing it into three portions is a Sunnah, but it is permissible to keep all of it provided that a portion, even a small one, is given to the poor and needy (one kilo for example).

What is the Islamic ruling on adoption, and what is the legal window through which a person can be kind to an orphan girl, attend to her needs and raise her as his own?

Kindness to an orphan entails a great reward from Allah, but adoption is prohibited and invalid. Therefore, it is permissible for the aforementioned person (for example) to make his brother`s wife breastfeed that girl so that he becomes her uncle by suckling provided that he informs her that she isn`t his biological daughter.

After a month and a half from the end of postpartum bleeding, my wife occasionally finds a small amount of blood, and she is breastfeeding. What is this blood, and should she fast and pray when she experiences it?

This is postpartum bleeding, so she should not fast or pray until she sees the signs of purity, unless it exceeds sixty days, as the maximum duration for postpartum bleeding is sixty days, and the majority of women experience forty days. If it exceeds sixty days, it is considered irregular bleeding (Istihada). It would be advisable to consult a doctor after the sixty days. And Allah Knows Best.

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