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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 a sick person to pray while sitting on a chair?

All perfect praise be to Allah, The Lord of the Worlds                                                                                                                                                                        It is permissible for a sick person, who is unable to stand up, to offer prayer while sitting on a chair. If he/she was unable to prostrate while on the chair, the he/she should pray while sitting on the ground, but if he/she was neither able to bow (Roku),nor to prostrate, then he can do them while sitting on the chair. And Allah Knows Best.

What is the ruling on eating the food prepared by Christians friends knowing that their income comes from trading in alcoholic drinks?

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.
It isn`t allowed to have the food of the person whose source of income is unlawful. However, if it is a mixture of lawful and unlawful, then it is permissible to have their food. And Allah The Almighty Knows Best.

Is it disliked to clip one`s nails at night, and to burn them afterwards?

It is recommended to bury hair and nails that have been removed and to conceal them in the ground. As for burning nails, we have not found any specific prohibition against it, but adhering to what is supported by evidence—burying the nails—is preferable. And Allah Knows Best.

Is speaking to a person from the opposite sex forbidden or not?

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.
Talking to a person from the opposite sex is forbidden in Islam because it entails a great deal of evil, which could lead to a graver sin. Moreover, Islam forbids having a friend from the opposite sex. And Allah The Almighty Knows Best.

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