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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

Is it permissible to add the nutmeg to one`s food?

All Perfect Praise is due to Allah, The Lord of The Worlds

Using a little bit of the nutmeg for seasoning is permissible, but using a great deal of it is impermissible since it could lead to intoxication, and Islam has forbidden all intoxicants and stupefacients. And Allah Knows Best.

Is it permissible for the doctor to uncover the hair of a female patient out of necessity?

It is only permissible for him to do so when there is no female doctor, and he should examine the patient in the presence of one of her Mahrams (unmarriageable kin).

Is it permissible for a person to sever ties with his sister because her husband had quit prayer and done him harm?

A sister is a blood-relative and maintaining blood-relations is obligatory in Islam. As regards her husband, he should be invited to the way of Allah with wisdom and beautiful preaching.

I am a doctor, and sometimes I refer patients to the hospital for surgical interventions, and they give me a commission from the fees of the surgeries, even though I do not perform these surgeries. What is the ruling?

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.
If this commission is charged to the patient as part of the operation costs, then it is not permissible. Additionally, a doctor should only recommend surgery if there is a genuine medical need, and the hospital should only perform an operation when necessary. And Allah The Almighty Knows Best.
 
 
 
 
 

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