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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

What is the ruling on wiping the white area behind the ears instead of wiping the head?

The obligation in ablution is to wipe some of the head; it is not a condition to wipe all of it. Wiping the white area behind the ears suffices for that. And Allah the almighty knows best.

Can I start fasting based on the moon sighting of another country?

You must follow the moon sighting of the country you are in.

What are the Sunnah acts of fasting?

● Delaying Suhoor (pre-dawn meal) as long as there is no risk of Fajr beginning.
● Hastening Iftar (breaking the fast) immediately after confirming sunset.
● Performing I‘tikaf, especially during the last ten nights of Ramadan.
● Reciting the Quran frequently.
● Avoiding idle and useless talk.
● Being generous and charitable.
● Guarding oneself from desires.
● Purifying oneself from major impurity (janabah) before Fajr.

Is it permissible to consume the meat of a sacrifice (Dhabihah) offered as an act of devotion to Allah, seeking His protection for my family?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible to eat from this sacrifice, and the reward [for it] is according to what is given to the poor. And Allah the Exalted knows best.

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