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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 it permissible to combine and shorten prayers at home before traveling?

It is impermissible to combine and shorten prayers at home before traveling because a person is called a traveler once he/she departs the borders of his/her country, and offering prayer that way was originally intended to exempt a traveler. And Allah Knows Best.

What is the ruling on one who performs ablution or the ritual bath while having nail polish?

Nail polish must be removed before ablution or ritual bath so that water reaches what is beneath it, because it is a barrier that prevents water from reaching that area. This is based on the hadith narrated by Ali (may Allah be pleased with him) from the Prophet (peace be upon him): "Whoever leaves a hair's breadth of his body unwashed from major impurity, such and such will be done to him in the Fire." (Reported by al-Bukhari). And Allah the Almighty knows best.

Is it permissible to trim the eyebrows if they become excessively long?

Trimming eyebrows is permissible if they become excessively long, yet; it is reprehensible. And Allah Knows Best.

Does the fast become invalid if water from rinsing the mouth reaches the stomach while performing ablution?

If water reaches the stomach without the fasting person exceeding normal rinsing or being excessive, their fast remains valid.
However, if they exceed the normal practice or exaggerate in rinsing, causing water to enter the stomach, their fast is invalid.
This is because excessiveness in rinsing is prohibited for a fasting person, as the Prophetﷺ said: "Exaggerate inhaling water during ablution, except when you are fasting." [Narrated by the Four Imams]
Transgression (Ta‘addi) refers to rinsing the mouth more than three times, while exaggeration (Mubalaghah) includes gargling, drawing water deep into the nasal passages, or filling the mouth with water in an unusual manner.

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