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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 washing the private part after urinating (Istinjaa`) a condition, and is it done with water and soap, or with water only?

Istinjaa` is obligatory for removing impurity, and it can be done with toilet paper, or a stone, or water. It is preferable to do Istinjaa` first with paper, or stone, or the like, then to wash the private part with water until making sure that the impurity has been removed. Using soap is not a condition, but there is no harm in doing so provided that it is washed off with water. It is also permissible to use either water, or paper if impurity is removed by any.

What is the ruling on performing ablution (wudu') and ritual bathing (ghusl) with Zamzam water?

It is permissible to perform ablution and ritual bathing with Zamzam water. However, scholars disliked using it for cleaning after relieving oneself (istinja'). And Allah the Almighty knows best.

What is the ruling on using snuff, inhaled vapor, or menthol rub (Vicks) during the day in Ramadan?

Using snuff, inhaled vapor, or menthol rub (Vicks) invalidates the fast because these substances enter the lungs through inhalation, and the lungs are considered part of the body cavity (jauf).
Whoever uses them must refrain from eating and drinking for the rest of the day out of respect for the sacred month and make up for that day after Ramadan.
However, if it is merely a scent and none of its substance reaches the body cavity, it does not break the fast.

Is it permissible to pay the Fitr Zakah (obligatory charity) of Ramadan on behalf of a dead person?

The Fitr Zakah of Ramadhaan isn`t due on one who had passed away before the sunset of the last day of Ramadan. And Allah Knows Best.

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