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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 the unification of Adhan?

 All perfect praise be to AllahThe Lord of The Worlds, and may His peace and blessings be upon our Prophet Muhammad and upon all of his family and companions.                                                                                                                                                                                                                                  The unified Adhan is an act of Sunnah performed on behalf of a city's population. In addition, any Masjid that doesn’t have a Mua'than (The person who calls for prayers) and doesn`t raise the Adhan misses the reward of this great act. This is because Adhan should be raised for every group of people. However, the unified Adhan should be called in one Masjid and heard through all other Masjids. And Allah Knows Best.

Is it permissible to fish on Saturday?

All Perfect 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. 

It is permissible for Muslims to fish on any day, but the sons of Israel are the ones forbidden to fish on Saturday. Moreover, there is no evidence in Islamic Sharia prohibiting Muslims from fishing on that day. And Allah Knows Best.

What is the ruling on someone who doesn`t perform prayer?

All perfect praise be to Allah,The Lord of The Worlds                                                                                                                                                                    Not performing prayer is a major sin, and one who doesn`t pray out of laziness is considered an oft-sinner ;whereas, the one who denies that it is mandatory is considered a disbeliever. And Allah Knows Best.

What is the ruling when the monthly period when exceeding (15) days?

The maximum duration of menstruation is 15 days. If it exceeds this, it is considered irregular bleeding (Istihada). In this case, one must perform ghusl (Ritual bath) after menstruation, pray, and make wudu for each prayer after its time begins. She should return to her previous menstrual habit regarding duration and timing. For example, if her period used to be from the 20th to the 27th of each month, this is considered her menstruation period. Anything before or after this is Istihada, during which she only leaves prayer and fasting for the habitual menstrual days, then performs ghusl and resumes praying.

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