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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

Is committing Zina (Adultery and extramarital sex) without the intention of getting pregnant or deflowered considered full Zina?

All perfect praise be to Allah the Lord of the Worlds. May Allah`s peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
 
The Messenger of Allah (PBUH) says: "The eyes commit fornication, the hands, the feet, and the private parts." [Musnad Ahmad, P.3912]. Sheikh Shu`aib `Arn`oot graded this Hadith as sound. What you are asking about is far graver. Generally speaking,  sincere repentance erases sins, good deeds erase bad deeds, and fearing Allah stops one from committing this heinous act. In addition, the devil is man`s worst enemy and whoever surrenders themselves to the wolf will be eaten. And Allah The Almighty Knows Best.

 have an amount of 2,700 Jordanian dinars, which I have invested in a project, and I pay zakat on it every year. However, I have debts and obligations, and this project yields only a profit of about 2-4%. My salary is not enough to support myself and my family to the extent that I cannot pay the electricity bills. Is it permissible for me to take from the above Zakat?
 

You permitted to take from your Zakat since your income insufficient for you, because the poor is permitted to take from the Zakat in general, besides; the poor is identified of whose income doesn't suffice him. And Allah Knows Best.

I`m a mother of three orphans. Is it permissible for me to spend on myself from their salary, such as buying a Jilbab*?

All perfect 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.
It is permissible to take a reasonable amount that is equal to your services to them. However, it is better that you don`t. The evidence on this is that Almighty Allah Says (What means): "Make trial of orphans until they reach the age of marriage; if then ye find sound judgment in them, release their property to them; but consume it not wastefully, nor in haste against their growing up. If the guardian is well-off, Let him claim no remuneration, but if he is poor, let him have for himself what is just and reasonable. When ye release their property to them, take witnesses in their presence: But all-sufficient is God in taking account." [An-Nisa`/6]. And Allah The Almighty Knows Best.
 
* A full-length outer garment, traditionally covering the head and hands, worn in public by some Muslim women.

Is it permissible for a Muslim physician to specialize in gynecology obstetrics, and what is the ruling on working as such?

Some fields of knowledge are an individual duty while others are a collective one, and specializing in gynecology obstetrics is a collective duty. However, if there were female physicians to treat women, then there is no need for a male gynecology obstetrics specialist to look at women`s Awrahs (private parts) except in necessary situations since the jurisprudential maxim says:” Necessity must only be assessed and answered proportionately.” And Allah Knows Best.

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