عربي
Home


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

Decision Number [ Previous | Next ]


Summarized Fatawaa

Which is superior: The Udhiyah (Sacrificial Offering) or giving its value in Charity (Sadaqah)?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Performing the Udhiyah (sacrificial offering) is superior to giving its monetary value as charity (Sadaqah) to the poor and needy. This is because the Udhiyah is one of the manifest symbols of the religion. Allah the Almighty says {what means}: "That [is so]. And whoever honors the symbols of Allah - indeed, it is from the piety of hearts." [Al-Hajj/32]. This is further supported by the explicit and authentic Hadiths regarding its virtue, and the fact that the Prophet ﷺ and the Rightly Guided Caliphs after him consistently performed the sacrifice. And Allah the Exalted knows best.

Can a person required to give kaffarah feed it to their own family members?

The kaffarah must be given to the poor and needy who are not financially dependent on the one giving the kaffarah.
If a person feeds it to their own family members, it does not count as kaffarah, and their obligation remains unfulfilled.

I`m in love with a certain man, and want to marry him in particular, but my family refused that, what should I do?

The father should know what is in the best interest of his daughter and consider her situation. On her part, the daughter should trust her father`s view point as far as suitors are concerned. Moreover, it is prohibited for any woman, or girl to get involved in a relation with a non-Mahram (Marriageable man).

Is it permissible for a wife to give her money to her family as a charity, or a gift without asking her husband, or seeking his consent?

The wife has the right to give her money as a charity, or a gift to her family, or to other people after consulting her husband out of respect, and this is the meaning of treating on footing of kindness and equity. Therefore, if he wanted to stop her from helping her family, then there is no harm in not telling him.

See More