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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 appoint a proxy for the sacrificial offering outside Jordan?

In the name of Allah; all praise is due to Allah, and peace and blessings be upon the Messenger of Allah.
 
It is permissible to appoint a proxy—whether an individual or a charitable organization—to perform the sacrificial slaughter (Udhiyah) on one’s behalf, even if it is carried out in a country other than that of the donor. This is conditional upon the proxy’s adherence to the established requirements of the Udhiyah, including the animal’s age, its freedom from physical defects, the designated timing of the slaughter, and the proper distribution of the meat.
However, it is preferable for the one offering the sacrifice to perform the slaughter personally, in order to attain the full reward and blessings of the act. And Allah (Exalted be He) knows best.

What is the ruling on performing ablution (wudu') and ritual bathing (ghusl) with Zamzam water?

It is permissible to perform ablution and ritual bathing with Zamzam water. However, scholars disliked using it for cleaning after relieving oneself (istinja'). And Allah the Almighty knows best.

What is the ruling on the fasting of a woman who has reached menopause if menstrual blood flows?

If a woman reaches the age of menopause (which is usually sixty-two) and her menses have ceased, then she sees blood after that, and its duration is not less than a day and a night (24 hours), it is menstruation (hayd). If it is less than a day and a night, she is considered as having non-menstrual vaginal bleeding (mustahada), so she fasts and prays. However, she must perform ablution for every obligatory prayer after its time enters, pray immediately, and be treated as a person with a continuous condition. There is no specific end limit for a woman's menstruation; it is possible as long as the woman is alive. And Allah the Almighty knows best.

Is an animal that results from crossbreeding between two types of livestock (an'ām) valid [for sacrifice]?

Praise be to Allah, and peace and blessings upon our master, the Messenger of Allah.
An animal that results from crossbreeding between two types of livestock (an'ām) is valid [for sacrifice], with consideration given to the higher of the two required ages. Thus, in the case of an animal crossbred between sheep (ḍa'n) and goats (ma'z), only one that has reached two years of age is valid [for sacrifice]. And Allah, the Most High, knows best.

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