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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 determining the sex of the baby whether through killing the female spermatozoa, or any other way in order to have a male?

If it is done through having a certain type of food, taking a certain type of medication, or organizing the time of the marital relation, then it is permissible.

Is buying shared land from someone who has taken possession of it considered halal or haram?

The shared land is possessed by the country i.e. for all people; therefore, it shouldn't be possessed/occupied save by it's guardian/owner permission,thusly it can't be possessed save by having owners' permission. Finally, buying it from a person who don't possess it is impermissible. And Allah Knows Best.

What is the ruling of Sharia on unregistered marriage in Jordan?

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.
Aishah narrated that the Messenger of Allah said: "Whichever woman married without the permission of her Wali her marriage is invalid, her marriage is invalid, her marriage is invalid. If he entered into her, then the Mahr is for her in lieu of what he enjoyed from her private part. If they disagree, then the Sultan is the Wali for one who has no Wali." [At-Tirmithi, Hadith No.1102]. The Prophet (PBUH) also said: "There is no marriage without a guardian and two honorable witnesses." Related in [Al-Mo`jam Al-Basit for At-Tabarani, pp.6366]. Registration of the marriage contract at Islamic court is necessary for the preservation of rights and failing to do so is punishable by Jordanian Law. And Allah The Almighty Knows Best

My Husband Works as a Diver and most of His Client are non-Muslims. Is his work permissible or not?

There is no harm on his job. And Allah Knows Best.

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