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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

Is it permissible to offer an absentee funeral prayer?

Yes, it is permissible to offer an absentee funeral prayer.

How is night prayer offered?

Night prayer is offering voluntary prayer after Maghrib and before Fajr (Dawn). As for Tahajjud, it is offering voluntary prayer at night after waking up voluntarily, and for Allah`s sake as He Says (What means): "And pray in the small watches of the morning: (it would be) an additional prayer (or spiritual profit) for thee: soon will thy Lord raise thee to a Station of Praise and Glory!" [Al-Isra`/79]. Offering Tahajjud is better than offering voluntary prayer before going to bed.

Is it permissible for a sick person to pray while sitting on a chair?

All perfect praise be to Allah, The Lord of the Worlds                                                                                                                                                                        It is permissible for a sick person, who is unable to stand up, to offer prayer while sitting on a chair. If he/she was unable to prostrate while on the chair, the he/she should pray while sitting on the ground, but if he/she was neither able to bow (Roku),nor to prostrate, then he can do them while sitting on the chair. And Allah Knows Best.

Is a menstruating woman obliged to pray during menses, and should she make up missed prayers?

All perfect praise be to Allah, The Lord of The Worlds                                                                                                                                                                        A menstruating woman is prohibited from prayer during her menses, and she isn`t obliged to make up missed prayers. And Allah Knows Best.

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