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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

What is the ruling on staring at the Holy Ka'abah?

All perfecy praise be to Allah, The Lord of The Worlds and may His Peace and Blessings be upon our Prophet Muhammad and upon all of his family and companions.

Staring/looking at the Holy Ka'abah is an act of worship even if this took place while performing a prayer, since Al-Baihaqee stated that the Prophet (PBUH) said: " Staring at the Holy Ka'abah is an act of devotion." [Sho'aab Al-Imaan]. And Allah Knows Best.

 

What is the ruling on obtaining a house through the King Abdullah II project (Decent Housing for a Decent Living), knowing that we do not own a house, our financial situation is moderate, our current rental costs are high, and we are eight people living in the household?
 
 
 
 
 

If owning the apartment/house is done through the same institution/project then it is permissible, but if this took place through usurious banks then it is impermissible, since dealing with usurious transactions is unlawful. And Allah Knows Best.

Should a woman who broke her fast because of delivery make up for missed fasting days before the next Ramadhaan, and what is the expiation due on her in case she delayed making up for them ?

She should make up for missed fasting days before the start of next Ramadan if possible, but if she didn`t while being able to, then she is obliged to make up for them along with feeding a needy person for each delayed day of the missed fasting days. However, if she wasn`t able to make up for the missed fasting days before the start of next Ramadan, she has to fast a day for every day that she missed, and no ransom is due on her. And Allah Knows Best.

What should a woman, who has given several births during different months of Ramadhaan, and didn`t make up for them in addition to forgetting the exact number of the days and years in which she had missed fasting, do?

She should make up the missed days of Ramadan after estimating their number, and paying the ransom (in food) due on each missed day that she had delayed making up. In addition, she is obliged to repay the ransom according to the number of years if she was able to fast before that time, but didn`t.

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