Resolutions of Iftaa' Board



Resolutions of Iftaa' Board

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 is teh ruling on thoughtless oath?

One who swears by Allah unintentionally and isn`t determined to fulfill his oath, nothing is due on him. Allah, The Almighty, Says (What means): "God will not call you to account for thoughtlessness in your oaths, but for the intention in your hearts; and He is Oft-forgiving, Most Forbearing." [Al-Baqarah/225]. However, it is dispraised for a Muslim to swear frequently.

Is the one who doesn`t offer prostration of recitation during Quranic recital considered sinful?

Prostration of Quranic recital is a Sunnah due on whosoever recites a verse that contains a prostration. It is also a Sunnah for the reader and the listener. However, none of them is considered sinful for not offering it, but they deprive themselves from a great reward. It is obligatory to offer the prostration of Quranic recital in congregational prayer following the lead of the Imam.

A man donated a burial plot, but before registering it in favor of the Ministry of Awqaf and before burying anybody there he said that he didn`t want to donate it and planted it. What is the ruling 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.

If he had endowed it as a cemetery, then he can`t take it back, even if he didn`t register it in favor of the Ministry of Awqaf. If he said: "I have endowed this plot as a cemetery, then it becomes an endowment." However, if he didn`t endow that plot-but it was his intention to do so-then he is allowed to back down. And Allah The Almighty Knows Best.

If the menses lasted for over than 9 to 10 days, considered menstruation?

If the duration of the bleeding does not exceed fifteen days, it is all considered menstruation, even if the usual pattern changes.