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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 should a person who doubted having missed a pillar of prayer do?

All praise be to Allah, The Lord of The Worlds.                                                                                                                                                                              The prayer of one who doubts having missed one of its pillars is valid, and nothing is due on him/her since having a doubt after offering the act of worship doesn`t undermine its validity. And Allah Knows Best.

Is it required for a discerning child to make the intention at night if they wish to fast?

If a discerning child wishes to fast during Ramadan, they must make the intention at night because intention is one of the pillars of fasting, even though fasting is not obligatory for them.

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.

What is the meaning of the word aqiqah?

 

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
The 'aqīqah in its linguistic sense refers to the hair upon the head of a newborn at the time of birth.
In its Sharī'ah sense, it refers to the livestock that is slaughtered on behalf of a newborn child.
And Allah Almighty knows best.

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