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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 to include others in the reward of one`s sacrifice?

 

Praise be to Allah, and prayers and peace be upon our Master the Messenger of Allah.
 
It is permissible for the one offering a sacrifice (al-muḍaḥḥī) to include another person in the reward of the sacrifice, but it is not permissible for them to share in the price of the sacrifice. It is stated in Mughnī al-Muḥtāj (Vol.6/P.137) by al-Khaṭīb al-Shirbīnī: "If he includes another in the reward of his sacrifice and slaughters it on his own behalf, it is permissible." And Allah Almighty knows best.

Is it permissible for a woman to give the ransom (Fidyah) for breaking her fast to her granddaughter (her son`s daughter)?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible for a woman to give the ransom (Fidya) for breaking her fast in Ramadan to her granddaughter (her son’s daughter), provided that the girl is poor and her basic needs are not being met by the maintenance (Nafaqah) of those who are lislamically obligated to provide for her. And Allah the Exalted knows best.

Is it permissible to combine and shorten prayers at home before traveling?

It is impermissible to combine and shorten prayers at home before traveling because a person is called a traveler once he/she departs the borders of his/her country, and offering prayer that way was originally intended to exempt a traveler. And Allah Knows Best.

Does passing wind from the anus affect ritual purity?

Ablution is nullified by the passing of wind from the anus, but washing the anus is not required as wind leaves no impurity.

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