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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

What advice do you have for those who spend their nights and days of Ramadan watching TV?

Time is too precious to be wasted on entertainment, let alone in the blessed month of Ramadan, where a Muslim should strive for reward and forgiveness.

Is it permissible to offer an Udhiyah on behalf of another without their permission?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is not permissible for a person to offer a sacrifice (Udhiyah) on behalf of someone else without their permission, except in the following cases: if he sacrifices on behalf of the members of his household, if a guardian sacrifices from his own wealth on behalf of his ward, or if the Imam (ruler) sacrifices from the public treasury (Bayt al-Mal) on behalf of the Muslims. And Allah the Almighty knows best.

What is the ruling on a woman who gets her menstrual period while fasting?

If a woman gets her menstrual period while fasting, her fast (of that day) becomes invalid, and she must make up for the missed days after Ramadan. Allah has granted ease to women in this situation, and she will be rewarded for not fasting because she is following Allah’s command.

What is the Islamic ruling on smearing the head of the newborn with the blood of the `Aqiqah?

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
It is disliked (makrūh) to smear the head of the newborn with the blood of the 'aqīqah, as this is a practice that belongs to the customs of the pre-Islamic era of ignorance (Jāhiliyyah). What is Sunnah instead is to anoint the newborn's head with saffron or another pleasant fragrance. And Allah Almighty knows best.

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