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

The imam recited a verse containing a prostration of recitation (*sajdat al-tilāwah*) but did not prostrate. After the imam's *salām*, a follower (*maʾmūm*) performed a prostration of forgetfulness (*sujūd al-sahw*) because the imam had not performed the prostration of recitation. Is it permissible to go against the imam in this way?

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah.
There is no sin on the imam if he omits the prostration of recitation (sujūd al-tilāwah), even deliberately. The maʾmūm (the one following the imam) is obliged to follow the imam in the prayer, so if the imam does not perform the prostration of recitation, it is not permissible for the follower to prostrate, because the imam is appointed only to be followed.
If the follower introduces a prostration after the imam’s salām but before his own salām, in a case where there is no prostration of forgetfulness (sujūd al-sahw), his prayer is invalidated if he knew it to be prohibited. Otherwise, he is excused on account of his ignorance and his prayer is not invalidated.
It is stated in Ḥāshiyat al-Imām al-Jamal ʿalā Fatḥ al-Wahhāb: “His statement: ‘So the omission of the hayʾāt (the non-essential sunnahs of the prayer) is not compensated for by prostration; if one prostrates for any of them deliberately, his prayer is invalidated, unless he is excused due to his ignorance.’”
Since this issue is one that is hidden from the laymen, as it is among the subtleties of knowledge, and the laymen are excused for ignorance of whatever is of such a nature, and their act of obedience is not invalidated because of it, it may be said that the prayer of one who has not acquired knowledge of this issue is not invalidated, with the necessity of learning the rulings remaining. As for after knowing it, the prayer is invalidated. And Allah Almighty knows best.

What is the validity of the formula for sending blessings upon our master Muḥammad ﷺ: *"Allāhumma ṣalli wa sallim wa bārik ‘alā sayyidinā Muḥammad wa ‘alā ālihi, ‘adada kamāli-Llāhi wa kamā yalīqu bikamālihi"* ("O Allah, send blessings, peace, and grace upon our master Muḥammad and his family, by the number of Allah's perfection, and as befits His perfection")?

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah ﷺ.
It is permissible to send blessings upon our master, the Prophet ﷺ, using the formula mentioned in the question, since sending blessings upon the Prophet ﷺ is an act of devotion legislated in its basic essence, without a specific prescribed wording required outside of the formal prayer itself. It is therefore valid to perform it outside of prayer using any formula. This particular formula involves multiplying the blessings sent upon the Chosen Prophet ﷺ to the number of the perfections of Allah, the Exalted — which are limitless — so that, by Allah's permission, its reward and benefit never cease.
The meaning of "the number of Allah's perfection" is that it is without limit, making the blessings sent boundless, corresponding to His perfection, Glorified is He, which cannot be enumerated or counted. This formula is analogous to the words of our Greatest Prophet ﷺ, as related in the authentic ḥadīth narrated by Imam Muslim: the Prophet ﷺ said to Sayyidah Juwayriyyah (raḍiyallāhu ‘anhā): "Indeed, I said four phrases after you [left], three times, which, if weighed against everything you have said since this morning, would outweigh them: Subḥān Allāhi wa biḥamdihi, ‘adada khalqihi, wa riḍā nafsihi, wa zinata ‘arshihi, wa midāda kalimātihi" (Glory be to Allah, and praise be to Him, by the number of His creation, by His pleasure, by the weight of His Throne, and by the extent of His words). And Allah, the Exalted, knows best.

Is it incumbent on a father to cover the marriage costs of his son if the latter couldn`t afford them?

The son should seek the help of his relatives in order to convince his father to do the aforesaid, and the father should make sure that his son doesn`t commit fornication through helping him to get married, and Allah will reward him for doing so.

Is it permissible to divide a single Sa‘ of Zakat al-Fitr—or its equivalent value in cash—among more than one poor person?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Zakat al-Fitr is estimated at one Sa‘ per person, but the number of people to whom this Sa‘ can be given has not been specified. For this reason, it is permissible to distribute a single Sa‘ among more than one poor person. And Allah the Exalted knows best.