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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 for one to shake hands with his uncle`s daughter?

No, it isn`t because he is a non-Mahram (Marriageable) to her.

What is the ruling on praying behind an undesirable Imam?

It is permissible to pray behind an Imam who is undesirable for committing religious violations, and it is disliked for such an Imam to lead the prayer. Still, If he was undesirable for a personal, or a worldly matter, then such argument doesn’t hold water. And Allah Knows Best.

My husband wanted to sell a piece of land that was his own, but his father insisted that he transfer the land in his (the father’s) name so that he could sell it at a higher price. Then, my husband and his father would split the price. After my father-in-law sold the land, he denied everything and refused to acknowledge my husband’s right. My father-in-law passed away a year ago, and my husband’s brothers divided the inheritance, refusing to acknowledge that this land was a trust held by their father for my husband until it was sold. Are they sinful for knowingly denying that the land belongs to my husband, and what is the ruling on praying against them?
 
 
 
 
 

All perfect praise be to Alalh, The Lord of The Worlds, and may His Peace and Blessings be upon our Prophet Muhammad and upon all of his family and companions.
Among the rights of the deceased upon their heirs are: preparing them for burial at death, settling their debts, returning people’s rights to them, executing their will, and then dividing their estate. What was mentioned in the question falls under the rights of others, even if they are among the heirs, and the deceased is not absolved of it unless it is returned to its rightful owners. This is because Allah, Almighty, forbids consuming others' wealth/properties unjustly. However, do not give up on seeking a solution by involving righteous and well - respected individuals who may have influence over them, in the hope that Allah guides them to goodness and correctness. As for supplicating against them, the prayer of the oppressed is not rejected, even if the oppressed person is not a Muslim. And Allah knows best.
 
 
 
 
 

What is the ruling on vomiting, and does it invalidate ablution?

Vomit is impure (najis). Its exit is not considered one of the nullifiers of ablution. However, the mouth must be washed and purified from it, and any that gets on clothing or the body must be washed for prayer, because prayer is not valid with impurity present on the body or clothing. And Allah the Almighty knows best.

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