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 on the ablution of one who touches his wife without a barrier?

In the Shafi'i school, a man's ablution is invalidated by touching his wife if their skins meet (in any place) without a barrier, whether the touch is intentional or accidental. An exception to this is touching hair, teeth, or nails; these do not invalidate ablution. And Allah the Almighty knows best.

What is the ruling if a postpartum woman becomes pure before forty days; are acts of worship obligatory upon her, and is she permissible for her husband?

If the postpartum woman becomes definitely pure before forty days, she must perform the ritual bath and perform acts of worship as a pure woman does. What was prohibited for her also becomes permissible, so she becomes permissible for her husband after her bath. The minimum duration for postpartum bleeding is a moment (an instant), and its usual maximum is forty days. Reaching forty days is not a condition; rather, it is sufficient for the blood to stop or to see the white discharge (qassa bayda'). And Allah the Almighty knows best.

How is the Night Prayer (Qiyam al-Layl) performed?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Night Prayer (Qiyam al-Layl) refers to the voluntary (Nafl) prayers performed by a person after the Sunset prayer (Maghrib) and before the Dawn prayer (Fajr). As for Tahajjud, it is the voluntary prayer performed during the night specifically after waking up from sleep, as an act of devotion to Allah. Allah the Exalted says {what means}: "And from [part of] the night, pray with it [i.e., recitation] as additional worship for you." (Al-Isra/79). Thus, in terms of reward,Tahajjud is superior to voluntary prayers performed before sleeping. And Allah the Exalted knows best.

What is the ruling of Islamic Law on a father shaking hands with his son’s wife after she has been divorced three times?

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah.
The wife of one’s son is among the women permanently prohibited to the husband’s father as soon as the marriage contract  is concluded, based on the saying of Allah the Exalted: “Prohibited to you are your mothers, your daughters, your sisters, your paternal aunts, your maternal aunts, your brother’s daughters, your sister’s daughters, your foster mothers, your foster sisters, your wives’ mothers, and your stepdaughters under your guardianship [born] of your wives with whom you have consummated marriage. But if you have not consummated marriage with them, there is no sin upon you. [Also prohibited are] the wives of your sons who are from your loins, and that you take [in marriage] two sisters simultaneously, except for what has already occurred. Indeed, Allah is ever Forgiving and Merciful.” [al-Nisāʾ/23]
This prohibition begins once the son’s marriage contract with his wife is complete, and it remains in force even if the son separates from her before consummation or before any seclusion (khalwah) with her. It is therefore permissible for the father to shake her hand and to be alone with her, provided there is no fitnah (temptation) and no suspicion.
It is stated in ʿUmdat al-Sālik (p. 204): “It is forbidden to marry… the wives of one’s fathers and of one’s sons. All of these women become prohibited by the mere contract, … all of that being a permanent prohibition.” End quote, with slight adaptation. And Allah Almighty knows best.