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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

Zakah due on a woman`s jewelry?

Obligatory Zakah (obligatory charity) isn`t due on a woman`s jewelry used for adornment, provided that the value of each piece is within the range amongst common market price. And Allah Knows Best.

What is the ruling on discharges two or three days before the expected period of menstruation and the light-colored blood accompanying it? Must the woman abstain from prayer during this period?

If the total duration of these blood-tinged discharges reaches a day and a night (24 hours) or more, it is considered menstruation. If their total does not exceed 24 hours, it is not considered menstruation but is irregular bleeding (dam al-fasad). Each woman has specific cases for which she should ask the scholars. And Allah the Almighty knows best.

Is it permissible to slaughter sacrificial animals in public squares and streets?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
The slaughtering of sacrificial animals (udhiyah) should take place in locations designated for slaughter, such as abattoirs (slaughterhouses), or in sites allocated by the relevant authorities for this purpose.
 
It is not permissible to perform slaughtering in a random or haphazard manner—such as in public squares, on roadsides, or in front of houses—in a way that creates health hazards, causes public nuisance, or endangers public safety. And Allah Almighty knows best.

What is the ruling of Islamic Law on leaving the Sunnah prayer of Dhuhr due to fatigue?

Praise be to Allah, and peace and blessings upon our master, the Messenger of Allah.
According to the general rule, a Muslim should strive to maintain the Sunnah prayers before and after the obligatory prayers (al-sunan al-qabliyyah wa al-ba'diyyah). One is permitted to pray them sitting from the outset, but if one leaves them due to severe fatigue, there is no objection to doing so. It is recommended (mustahabb) to make up (qadā') a time-bound supererogatory prayer (nafl mu'aqqat) at any time if it was missed.
Al-Shirbīnī (may Allah have mercy on him) said: "If a time-bound supererogatory prayer is missed, it is recommended to make it up according to the more authoritative view (al-azhar), based on the hadith recorded in the two Ṣaḥīḥs: 'Whoever sleeps through a prayer or forgets it should pray it when he remembers it.' This is also supported by the fact that the Prophet (peace and blessings be upon him) made up the two rak'ahs of Fajr when he and his companions overslept in the valley and missed the dawn prayer until the sun had risen [narrated by Abū Dāwūd with an authentic chain]." And Allah, the Most High, knows best.

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