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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

If a traveler settles or a sick person recovers while fasting, is it permissible for them to break their fast?

● If a sick person starts the day fasting and then recovers during the day, they must complete their fast.
● If a traveler starts the day fasting and then settles (returns or stops traveling) during the day, they must also complete their fast.
● It is forbidden for both of them to break their fast because the concession (rukhsah) is no longer valid once its reason disappears.

Is it permissible for the children of a deceased father to settle his debt from the Zakah (obligatory charity) money due on them?

It is impermissible to use the Zakah of one`s money for settling the debts of the deceased. However, children should settle the debts of their deceased parents out of filial piety. And Allah Knows Best.

Does Laylat al-Qadr move between the nights of Ramadan?

Laylat al-Qadr is definitely in Ramadan, and it is most likely in the last ten nights, especially on the odd-numbered nights.
For this reason, the Prophet ﷺ commanded observing worship in the last ten nights, and he himself used to dedicate those nights to worship. Many people put special effort into the 27th night of Ramadan, and they are rewarded in any case, whether they actually coincide with Laylat al-Qadr or not, because worshiping on any night of Ramadan carries great rewards.
 

Is a woman sinful if she fasts out of shyness from her family while menstruating or in postnatal bleeding?

It is forbidden for a woman who is menstruating or in postnatal bleeding to abstain from food and drink with the intention of fasting. If she fasts out of shyness, she is sinful, as her fast is not valid.
However, if she refrains from eating and drinking without intending to fast, it is not forbidden, but she unnecessarily burdens herself without need.

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