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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

After I was ran over, I had cracked ribs, concussion, a tension pneumothorax, and retired as a result. What is the amount of the Diya?

All praise is due to Allah the Lord of the worlds. May the blessings of Allah be upon our Master and Prophet Muḥammad and his pure progeny.
 
What you have mentioned requires a detailed medical report since the benefit of every organ that you have lost deserves a full Diya (In Islamic law, Diya is the financial compensation paid to the victim or heirs of a victim in the cases of accidental murder, bodily harm or property damage). Moreover, the decrease in the benefit of some organs has to be assessed by expert doctors and allocated a percentage from the Diya accordingly. Therefore, we advise you to refer the matter to the courts or reconcile with the driver and forgive him so that Allah may forgive you. And Allah The Almighty Knows Best.

What are the conditions of the Aqeeqah?

The animals that are acceptable to be slaughtered for 'Aqeeqah are the same which are acceptable to be slaughtered for the sacrifice of 'Eed in terms of their age and lack of defects. The sheep should be one year old, and its teeth should have fallen off. As for goats and cows, they should have finished two years of age and entered into the third. The Aqeeqah should be free of any defects as regards meat, or price value.

Is a wife considered divorced if her husband refused to go to bed with her (for sexual intercourse) for two months?

A wife doesn`t get divorced no matter for how long her husband refuses to have sex with her, and she had better go to court.

Is it a condition that the meat of the Eid sacrifice should be distributed in order for the sacrifice to be accepted by Allah?

The poor and needy should be given from that sacrifice , even if it be a small portion,(One kilo for example) as raw meat so that they would cook it the way they want. The remainder of that sacrifice is either distributed, eaten, or offered to people in a banquette .

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