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

What is the ruling on the prayer of the individual following the imam whose prayer is broadcasted via television?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Among the conditions for the validity of following an Imam (Sihhat al-Iqtida’) is that the Imam and the follower (Ma’mum) must be in the same location. Therefore, the prayer of one who follows an Imam whose prayer is being broadcast via television from a distant location is not valid. However, if the follower is with the Imam in the same mosque, the prayer is valid. And Allah the Exalted knows best.

If someone fasts on the White Days with the intention of making up for missed fasts (qada), will they receive the reward for both voluntary and obligatory fasting?

Making up missed obligatory fasts (qada) is mandatory, and the intention for qada must be specified.
If a person makes up their missed Ramadan fasts on the White Days, they must intend qada, but they may also intend to fast the White Days, and Allah willing, they will receive the reward for both.
This is similar to entering a mosque and praying an obligatory prayer, where the person also earns the reward of Tahiyyat al-Masjid (greeting the mosque) if they intend both.
● If the person missed their fasts due to a valid excuse, they may wait and fast on the White Days.
● However, if they missed the fasts without a valid excuse, they must make up the fasts immediately and should not delay them until the White Days.

What is the ruling on shaving the head of the newborn?

It is desirable to shave the head of the newborn on the seventh day from delivery, and the weight of his/her hair is given in gold , or silver as charity.

Can a menstruating woman listen to the Quran from the radio or television?

Yes, a menstruating woman is allowed to listen to the Quran from the radio or television. What is forbidden for her is reciting the Quran and touching the Mus-haf, but listening is permissible—in fact, it is an act of worship.However, she should not repeat along with the Qur’an or try to keep pace with it.