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

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Summarized Fatawaa

What is the ruling of Islamic Law on participating in the prize draws (raffles) that commercial stores hold for their customers?

Praise be to Allah, and peace and blessings upon our master, the Messenger of Allah.
There is no objection to participating in the prize draws (raffles) that commercial stores hold for their customers, provided that the buyer's intention in purchasing is not merely to enter the competition without any need for what is bought — rather, the purchase must be genuinely intended for the item itself, and one must not pay more than the item's fair market price. This is because paying an amount above the market price would effectively be paying a fee to enter the prize draw, which would render it a form of gambling (qimār).
These prizes are, in essence, gifts that businesses offer through a random drawing (qur'ah) to those who purchase from them, as a means of encouraging sales, without the customer bearing any additional monetary cost for participation. So long as the aforementioned conditions are met, there is no objection to benefiting from the prize offered by the store, as it is considered a lawful prize from the viewpoint of Islamic Law.
It is stated in the resolutions of the "Jordanian Iftaa' Board" (Resolution No. 47), in the context of outlining the conditions for permissible prizes: "The price of the ticket [or item purchased] for the sake of the prize must not exceed its original price, so that there is no payment of money in exchange for participation in the draw." And Allah, the Most High, knows best.

What is the ruling of Islamic Law on wearing energy stones?

All praise is due to Allah, and peace and blessings be upon our master the Messenger of Allah ﷺ.
There is no objection to a woman adorning herself with precious and semi-precious stones — such as ruby, carnelian, or the like — so long as these are stones that women customarily wear as adornment.
As for what are known as "energy stones," if they are used with the intention of seeking remedy and healing, then such matters are governed by experimentation and scientific study — which either establishes that they have a tangible effect or does not — and all of this operates by the permission and will of Allah, Glorified and Exalted. If studies or practical experience do establish that such stones carry a beneficial effect upon human health, then there is no objection to using them. They are, after all, part of Allah's creation, much like medicinal substances extracted from plants or derived from other created things — provided that the Muslim does not believe that the stone itself is the source of benefit or harm. It is nothing more than a means among the many means that Allah has placed in this world, and the reality of all affairs belongs to Allah alone. And Allah the Almighty knows best.

What is the ruling on swallowing saliva while fasting?

It is permissible for a fasting person to swallow their saliva because avoiding it would cause undue hardship and excessive strictness in religion. Islam discourages such excessiveness since Allah the Almighty intends ease for His followers and does not intend to put them in hardship.

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.