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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

When is it Sunnah to slaughter the 'aqīqah?

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
It is Sunnah for the 'aqīqah to be slaughtered on the seventh day from the birth of the newborn. According to the sounder position, the day of birth itself is counted as the first of the seven days. Thus, for example, if the child is born on a Saturday, the 'aqīqah is to be slaughtered on the following Friday. If the child is born at night, the count begins from the day that follows. And Allah Almighty knows best.

Is it permissible to offer an absentee funeral prayer?

Yes, it is permissible to offer an absentee funeral prayer.

What is required of one who doubts the number of rakʿāt during prayer?

All praise is due to Allah, and peace and blessings be upon our master the Messenger of Allah ﷺ.
If a person doubts the number of rakʿāt he has prayed, he should build upon the lesser number, as that is what he is certain of. He should then perform the prostration of forgetfulness (sujūd al-sahw) before the final salām at the end of the prayer. ʿAṭāʾ ibn Yasār narrated that the Messenger of Allah ﷺ said: "When any one of you is in doubt during his prayer and does not know whether he has prayed three rakʿāt or four, let him pray one more rakʿah and then perform two prostrations while seated before the salām. If the rakʿah he prayed was a fifth, these two prostrations will make it even; and if it was the fourth, then the two prostrations serve as a humiliation for the devil." (Reported by Abū Dāwūd.)
It is stated in al-Muqaddimah al-Ḥaḍramiyyah — one of the foundational texts of the Shāfiʿī school: "If one doubts whether he has prayed three rakʿāt or four, he is obliged to build upon the lesser number."
However, if such doubt recurs repeatedly and reaches the level of obsessive whispering (waswasah), he should not build upon the lesser number in that case — rather, he should build upon the greater number. And Allah the Almighty knows best.

Is prayer nullified by nose bleed?

 All praise be to Allah, The Lord of The Worlds.                                                                                                                                                                           Blood coming out of the nose, or a wound doesn`t nullify prayer regardless of its quantity. And Allah Knows Best.

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