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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 consume the meat of a sacrifice (Dhabihah) offered as an act of devotion to Allah, seeking His protection for my family?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible to eat from this sacrifice, and the reward [for it] is according to what is given to the poor. And Allah the Exalted knows best.

What is the ruling on a person who insists on praying in a specific spot and becomes angry if someone else prays there?

ruling on a person who persists in praying in a specific spot and becomes angry if someone else occupies it

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Our Master the Prophet ﷺ forbade a man from habitually claiming a specific spot in the mosque as a camel claims its place (to sit); scholars consider this to be among the disliked matters (Makruhat). It is therefore obligatory to advise this individual that whoever arrives at a spot first has the most right to it. And Allah the Exalted knows best.

Is prayer nullified by nose bleed?

 All praise be to Allah, The Lord of The Worlds.                                                                                                                                                                           Blood coming out of the nose, or a wound doesn`t nullify prayer regardless of its quantity. And Allah Knows Best.

Is it permissible to authorize charitable organizations to perform the Udhiyah on one`s behalf?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is permissible to authorize charitable organizations to perform the sacrifice (Udhiyah) on one’s behalf. However, if these organizations undertake the slaughtering for a group of people, those in charge of the slaughtering must maintain lists of the names of those who authorized them. Furthermore, at the time of slaughter, the slaughterer must intend that the specific sacrifice is on behalf of a specific person. And Allah the Almighty knows best.

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