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

Decision Number [ Previous | Next ]


Summarized Fatawaa

I suffer from chronic asthma which requires ventoline inhale; which is an air causes the risperatory track/airways to expand. Am I permited to use it during the daylight of Ramadan? And does break one's fast? Noting that I can't go an entire day without using it?

Taking inhaler through the mouth or the nose breaks one's fast, because it is meant to reach the lungs which are part of the coelom. Therefore, whosoever use inhalers for couple of days is obliged to preserve his fasting and make up that day later. As for the ones the ones who need to use it every days are obliged to preserve his fast and feed a poor per day and the cost of feeding one poor is estimated (60) piasters for the year (1421AH). And Allah Knows Best.  

Is Zakah (obligatory charity) due on the items used in the trading process such as: cars , shops etc..?

No Zakah is due on equipments used in the trading process such as cars and the like.

Allah The Almighty Made marrying up to four women lawful, but human beings prohibit that with their own land laws. What is the position of Sharia on this?

All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
What Allah has made lawful, human beings can`t make it unlawful. However, taking the decision to marry up to four women requires material and physical abilities, in addition to having the courage to make such a decision. And Allah The Almighty Knows Best.

Is the prayer of a woman who is led by an Imam via T.V. permissible?

All perfect praise be to Allah, The Lord of The Worlds, and may His Peace and Blessings be upon our Prophet Muhammad and upon all of his family and companions.                                                                                                                                                                                                                          Amongst the conditions for the validity of prayer is that both the Imam and those led by him must be in the same place. Thus, the prayer of the person who is being led by a televised Imam is invalid unless he/she was with him in the same mosque. And Allah Knows Best.