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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 for a woman to observe voluntary fast without her husband's permission?

A woman is not permitted to observe a voluntary fast (nafl) while her husband is present without his permission.

Does the clipping of nails nullify ablution?

No, it does not, and it is preferable to wash the hands afterwards.

What is the expiation for perjury?

Perjury is forbidden and one of the major sins that require turning to Allah in repentance, seeking His forgiveness, giving back rights to whom they belong, or seeking their forgiveness, and expiating for that oath.

What is the ruling on using a patch to suppress hunger or a nicotine patch while fasting?

Fasting is a great act of worship and one of the pillars of Islam. If people knew the immense reward of Ramadan, they would wish for the whole year to be Ramadan.
Whoever eats Suhoor and breaks their fast according to the Sunnah will not experience extreme hardship, making such patches unnecessary.
However, using these patches does not break the fast because they are not a source of nourishment and do not enter the body cavity (jauf) through an open passage.

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