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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

Which is better for a traveler: fasting or breaking the fast?

Fasting is better, unless it causes hardship—in that case, breaking the fast is better.

Is Zakat al-Fitr obligatory for an unborn child (fetus)?

Zakat al-Fitr is not obligatory for a fetus. However, if the child is born before sunset on the last day of Ramadan, then Zakat al-Fitr must be given on their behalf.

What is the ruling on performing the Witr prayer as a single rak`ah?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible to perform the Witr prayer as a single unit (rak‘ah). It was narrated from Ibn ‘Umar that a man asked the Messenger of Allah ﷺ about the night prayer, and the Messenger of Allah ﷺ replied: 'The night prayer is offered two by two (mathna mathna). If one of you fears the approach of dawn, let him pray a single rak‘ah to make what he has prayed odd-numbered (Witr) for him.' (Related by al-Bukhari & Muslim)). However, limiting the prayer to only one rak‘ah is considered 'contrary to the preferred way' (Khilaf al-Awla).
 
It is stated in Al-Minhaj al-Qawim Sharh al-Muqaddimah al-Hadramiyyah (p. 137): 'The minimum of Witr is one rak‘ah, but limiting it to that is contrary to what is best.'
 
The most complete form of Witr is eleven units, while the minimum level of 'perfection' is three units. It is stated in ‘Umdat al-Salik (p. 60): 'The minimum of Witr is one rak‘ah, and its maximum is eleven, performing the taslim (salutation) after every two units. The lowest level of perfection is three units with two separate taslims (meaning 2+1).' And Allah the Exalted knows best.

Do pregnant and breastfeeding women have to fast?

Pregnant and breastfeeding women are required to fast. However, if fasting causes them harm or unusual hardship, they may break their fast but must make up for the missed days later.
If they break their fast solely out of fear for the fetus or the child, then they must both make up the fast and give fidyah (feeding a needy person for each missed day), as the benefit of breaking the fast was only for the child.

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