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

Is it permissible for someone with a physically demanding job, such as a baker or construction worker, to break their fast?

It is not permissible for someone with a physically demanding job to start the day intending to break their fast. They must make the intention to fast at night and begin fasting. However, if they reach a point where fasting becomes unbearably difficult, they may break their fast and make up for it later.

Is it permissible to offer mandatory prayer while sitting?

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.                                                                                                                                                                                                                            Standing up is a pillar in the mandatory prayer and the prayer is not valid without it unless one cannot do it. As for Nafila (supererogatory prayer), one can perform it in the state of sitting even if he/she can stand, but his/her reward is half the reward of the person who prays while standing if he/sh has no legal excuse for such an act. And Allah Knows Best.

Is it incumbent on a husband to pay the alimony of his wife if she had left him and stayed at her parent`s without his permission?

When a wife leaves her house, and stays at her parent`s without asking her husband, she is considered a Nashiz (wife who refuses to abide by her husband’s orders), and so she doesn`t deserve an alimony.

Does using a wet miswak while fasting break the fast?

A fasting person should ensure that the miswak is dry when using it.
However, if the miswak is slightly moist but does not release any liquid when squeezed, then its use does not break the fast.