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 are the conditions for the validity of the slaughtering process according to Sharia?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
Regarding the Sharia-mandated conditions for the validity of the slaughtering process (Adh-Dhabh), they are as follows:
 
The Identity of the Slaughterer: The person performing the slaughter must be either a Muslim or from the People of the Book (Christian or Jewish).
 
The Required Cuts: Both the trachea (windpipe/breathing passage) and the esophagus (food passage) must be completely severed.
 
Stability of Life: The animal must possess stable life at the start of the slaughtering process. This is identified by clear signs, such as vigorous movement or the forceful gushing of blood after the throat and esophagus are cut.
 
The Tool of Slaughter: The tool used must be sharp, capable of cutting or piercing by its edge and not by its sheer weight or blunt force.
 
And Allah the Almighty knows best.

Is it permissible for a mother to stop her daughter from marrying a respectable, God-fearing young man because he isn't college/university graduate?

It is impermissible to deny a woman her right in getting married except for a lawful reason, and problems can be solved through dialogue. However, she can file a suit in order for the judge to have a say in that regard.

What is the ruling on fasting the six days of Shawwal?

Fasting the six days of Shawwal is Sunnah. The Prophet ﷺ said: "Whoever fasts Ramadan and then follows it with six days of Shawwal, it is as if they have fasted for a lifetime." [Narrated by Muslim]
This is because fasting one month of Ramadan is rewarded as fasting for ten months, and the six days are equivalent to sixty days, completing a full year of fasting.

What is the ruling on the ablution of one from whom blood exits from his nose or a wound?

Blood flowing from a wound or a nosebleed does not invalidate ablution. However, performing ablution is recommended to avoid scholarly disagreement with those who make ablution obligatory after blood flows. And Allah the Almighty knows best.