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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

Some people eat raw lamb live. Is this permissible or not?

Praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
There is no harm in eating raw lamb liver since this is permissible according to Sharia. And Allah The Almighty Knows Best.

A person vowed to slaughter a sacrificial animal. Is he permitted to eat from it?

If the vowed sacrificial animal was for the sake of Allah, and the one who vowed didn't specify then its meat should be distributed only among the poor and needy similar to distributing Zakah of Al-Fiter so neither him nor his dependents permitted to eat from; however if his vow was to made a banquet and invititing his relatives and others; then he must bring up as much as he can from its meat for them. In addition, he is permitted to eat from it in a reasonable basis. And Allah Knows Best. 

Is Zakah (obligatory charity) due on leased property, and how is it calculated?

Zakah isn`t due on the leased property itself, but on the saved income from that property if it reached Nissab (minimum amount liable for Zakah), and a whole lunar year had lapsed over saving it.

I wish to Pray at the Mosque, but I couldn't because I am a Woman. How can I get such a Reward?

All perfect praise be to Allah The Lord of The Worlds, and may His peace and blessings be upon our Prophet Muhammad and upon all of his family and companions                                                                                                                                                                                                                            Abdullah Ibn Masood (May Allah be Pleased with him) reported that the Prophet (PBUH) said: "Her prayer inside her home is better than its courtyard, and her prayer in her own bedroom is better than inside her home." [Abu Dawood]. Her staying at home, and not going to the mosque in obedience to Allah`s injunctions entails a great reward similar to that bestowed on a man for going to the mosque since the Mercy and Blessings of Allah Prevails. And Allah Knows Best.

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