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

Is it permissible for a husband to sell his wife`s jewelry if he was in a hard up?

A woman`s jewelry and dowry are her own property, and it is forbidden for the husband to take either without obtaining her approval. However, it is desirable for the wife to support her husband through considering her jewelry a sort of documented debt on him.

If someone fasts on the White Days with the intention of making up for missed fasts (qada), will they receive the reward for both voluntary and obligatory fasting?

Making up missed obligatory fasts (qada) is mandatory, and the intention for qada must be specified.
If a person makes up their missed Ramadan fasts on the White Days, they must intend qada, but they may also intend to fast the White Days, and Allah willing, they will receive the reward for both.
This is similar to entering a mosque and praying an obligatory prayer, where the person also earns the reward of Tahiyyat al-Masjid (greeting the mosque) if they intend both.
● If the person missed their fasts due to a valid excuse, they may wait and fast on the White Days.
● However, if they missed the fasts without a valid excuse, they must make up the fasts immediately and should not delay them until the White Days.

Is it permissible for a guardian (Big brother) to unlawfully stop his sister from getting married?

If the guardian denies her right in getting married for an unlawful reason, she should go to court in order to settle that matter, and the guardian is considered sinful in this case.

What is the ruling if someone wipes his head then shaves it - must he repeat it?

If a person performing ablution shaves his head after wiping it during ablution, he is not required to re-wipe his head or repeat the ablution. And Allah the Almighty knows best.