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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

What is the ruling on water present on the floor of a toilet/bathroom?

The default ruling is the purity of this water present on the bathroom floor. If one is certain or strongly suspects its impurity, then one washes whatever part of the body or clothing this impure water has touched. If one doubts its impurity, the default is purity, and we do not rule it impure based on mere doubt. And Allah the Almighty knows best.

Is it required to fast consecutively when making up missed fasts?

● It is preferable to fast consecutively when making up missed fasts if they were missed due to a valid excuse.
● However, if the fasts were missed without a valid excuse, then fasting consecutively is obligatory, because making up the missed fasts in this case must be done immediately.
Separating the makeup fasts goes against the obligation of immediacy, but if someone does so, their fasts will still be valid. However, they will be sinful for delaying without a valid reason.

What is the ruling on objecting to the Mosque Imam regarding the joining of prayers due to rain?

 
Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is not permissible for any of the congregants to object to the Imam in the mosque, whether the objection is to demand the joining of prayers or to oppose it; for the general principle is that the Imam possesses the religious knowledge (Al-Ilm al-Shar‘i) that qualifies him to make the decision in this matter. And Allah the Exalted knows best."

Is it permissible for a woman to give the ransom (Fidyah) for breaking her fast to her granddaughter (her son`s daughter)?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible for a woman to give the ransom (Fidya) for breaking her fast in Ramadan to her granddaughter (her son’s daughter), provided that the girl is poor and her basic needs are not being met by the maintenance (Nafaqah) of those who are lislamically obligated to provide for her. And Allah the Exalted knows best.

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