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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 do if they suffer from an incurable illness that prevents them from fasting?

A person who has an illness that is not expected to be cured and prevents them from fasting must feed a needy person one mudd (600 grams) of food (such as wheat or rice) for each missed day instead of fasting.
Allah Almighty says {what means}: "and [in such cases] it is incumbent upon those who can afford it to make sacrifice by feeding a needy person." [Al-Baqarah/184].

Is it recommended (mustaḥabb) for the one offering  a voluntary sacrifice (uḍḥiyyat taṭawwuʿ) to eat from its meat?

In the Name of Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
 
It is highly recommended (Mustahabb) for the person offering a voluntary Udhiyah (sacrificial animal) to eat from its meat, but it is not an obligatory requirement (Wajib). Allah the Almighty says {what means}: "So eat of them and feed the needy who do not beg and the beggar. Thus have We subjected them to you that you may be grateful." (Al-Hajj/ 36)
 
"So eat of them": This directive is an encouraging recommendation, not a binding command.
 
The Qani’ (the needy who do not beg): Refers to a poor person who refrains from asking people for help out of dignity.
 
The Mu’tarr (the beggar): Refers to a poor person who explicitly asks others for assistance. And Allah the Almighty Knows Best.

What is the ruling on giving Zakah (obligatory charity) to one`s relatives?

It is impermissible to pay Zakah to one`s origins (parents and grandparents) because providing for them is an obligation on their branches (sons and daughters) if they were poor, but it is permissible to give some of the Zakah money to relatives whose provision isn`t due on the giver of the Zakah.

Is it permissible for a pious Muslim woman to stay with her husband who had quit praying out of laziness?

Quitting prayer is one of the major grave sins that come after disbelieving in Allah, but the wife of such a person isn`t considered divorced, rather, she should exert all her efforts in order to bring him back to the way of Islam. However, if his sin is likely to lure her from the way of Islam, then she had better separate from him by lawful means such as Mokhal`aa (When a wife pays a compensation for her husband in return for divorcing her). Moreover, if she exercises patience, and remains steadfast on her faith, then there is no harm in doing that.

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