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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

Can an Udhiyah be made up if its time is missed?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
If the sacrificial animal (udhiyah) is a voluntary (nafl) offering and its prescribed time is missed after the three days of Tashriq have ended, then it is not to be made up as a sacrifice; rather, it becomes merely a sheep for meat.
 
However, if it was a vowed (nadhr) sacrifice and its time is missed, then it must still be slaughtered, and the slaughtered animal is to be treated as it would have been during its prescribed lawful time. And Allah Almighty knows best.

What is the ruling on storing the meat of sacrificial animals and distributing it throughout the year?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is disliked (makruh) to store or preserve the meat of sacrificial animals (udhiyah), whether for a short or long period, provided that the sacrifice is slaughtered within its prescribed lawful time, while also taking care to prevent the meat from spoiling. And Allah Almighty knows best.

Is it obligatory for someone traveling by plane in the afternoon during Ramadan to fast?

Anyone who intends to travel after dawn must begin the day fasting and continue with the intention of completing their fast, as fasting was obligatory upon them before traveling.
However, if they experience unbearable hardship after starting their journey, they are permitted to break their fast due to that hardship, not merely because of travel. In such a case, they must make up for the missed fast later.

Is the one offering the sacrifice liable if its meat spoils?

Praise be to Allah, and prayers and peace be upon our Master the Messenger of Allah.
 
If the meat (of the sacrifice) spoils due to the negligence of the one offering the sacrifice in preserving it, or due to improper storage, then he is liable to compensate for the portion due to the poor (which is estimated as half a kilogram of meat). If the sacrifice was a vowed (mandatory) one, then he is liable for all of it.
 
However, if he was not negligent, then there is no liability upon him, because its ruling is the ruling of a trust (like an item left in someone's care). And Allah Almighty knows best.

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