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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

Does Husband fasting while being impure for having sexual intercourse with his wife at night permissible?

Yes it is permissible for you to fast because impurity isn't among valid fasting conditions, but you are obliged to perform ritual impurity in order to catch up Fajr prayer at its due time. And Allah Knows Best.    

Is Iddah (waiting period) incumbent on an old woman whose husband had died?

Upon the death of the husband, Iddah is incumbent on the wife regardless of their age. And Allah Knows Best.

I`m a god-fearing woman. I`m two months pregnant but my husband insists that I have an abortion?

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.
 
It isn`t permissible for you to abort the fetus unless it endangers the mother`s life. Therefore, try to convince your husband to change his mind and encourage him to pay us a visit. And Allah The Almighty Knows Best.

Is it permissible to listen to chants praising the Prophet if accompanied by musical instruments?

If singing, or chanting in praise of the Prophet was accompanied by a forbidden musical instrument, then it is forbidden.

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