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

What is the ruling of Islamic Law on a fictitious marriage for the purpose of obtaining citizenship?

All praise is due to Allah, and peace and blessings be upon our master the Messenger of Allah ﷺ.
There is no such thing in our noble sharīʿah as a "nominal" or "fictitious" marriage or divorce. Marriage and divorce are among the sacred ordinances of Allah, and it is not permissible to manipulate them or use them as a stratagem to obtain worldly gains.
The foundational purpose of a marriage contract is the permanence and continuity of the relationship between the spouses — to establish a family, and to bring forth righteous offspring. So sacred is this bond that Allah the Almighty Himself described it as a solemn covenant (mīthāq ghalīẓ), saying {what means}: "And if you wish to replace one wife with another and you have given one of them a great amount of wealth, do not take any of it back. Would you take it in injustice and manifest sin? And how could you take it while you have gone in unto each other and they have taken from you a solemn covenant?" [Al-Nisāʾ/ 20–21]
Accordingly, it is not permissible to resort to manipulation and deception in contracts that Allah, Mighty and Majestic, has described as a "solemn covenant" — all for the sake of material and worldly benefit. Marriage is built upon permanence and does not admit of a fixed time limit. If a time limit is stipulated in the contract, the contract is rendered invalid by the consensus of the jurists. Similarly, marriage is impermissible when there exists a mutual, concealed intention to limit its duration — even if no time limit is explicitly mentioned in the contract — for this constitutes a form of unlawful circumvention of the sharīʿah. This is to say nothing of the lying and deception that such conduct involves, the prohibition of which needs no elaboration. Lying, deception, and fraud for the purpose of obtaining worldly gains are among the gravest of sins.
If, however, the marriage contract is first concluded in a valid sharʿī manner and then registered civilly, it is sound and fully valid. And Allah the Almighty knows best.

What are the conditions that must be met for the 'aqīqah to be valid?

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
The 'aqīqah is like the recommended uḍḥiyyah in terms of the type of animal, its age, and its required characteristics — since it is a recommended slaughter and therefore resembles the uḍḥiyyah in its rulings.
It is agreed upon without any difference of opinion that the 'aqīqah is not valid with any animal other than livestock (al-na'am — camels, cattle, and sheep). Likewise, an animal with a disqualifying defect — such as obvious illness, lameness, or blindness in one eye — does not suffice, as has previously been explained in the rulings of the uḍḥiyyah. And Allah Almighty 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.

What is the ruling on preparing food for someone who is not fasting in Ramadan?

It is forbidden to prepare food for someone who is breaking their fast without a valid excuse in Ramadan.
Doing so would be assisting in sin, and assisting in sin is itself a sin.
Allah says {what means}: "but help ye not one another in sin and rancour" [Al-Mai`dah/2]