Resolutions of Iftaa' Board



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 menstruating woman to recite the Quran from the computer without actually touching the Quran?

It is not permissible for a woman in her menstrual period, or in postpartum to recite the Quran, even by heart, or without actually touching the Quran itself. Recitation itself is what is prohibited on her regardless of how it is done. However, it is permissible for her to surf through the Quran by her eyes, or to recall it in her head without uttering the words. There is no harm for her to look at the Quranic verses on the computer without touching it, or to utter the words as this is called looking not reciting or reading.

What is the ruling of islamic law on statutory (legal) interest awarded by a court?
 

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is permissible for a person in whose favor a judge has awarded statutory (legal) interest to deduct the actual litigation costs incurred in filing and prosecuting the lawsuit from these interest funds.
 
Any remaining balance beyond those actual expenses must be returned to the party upon whom the payment was imposed, provided that party is a specific individual. If, however, the paying party is a public entity or state institution, the remaining amount should be spent on the general public interests of Muslims—such as schools, mosques, roads, and similar public utilities shared by the community—or given in charity (Sadaqah) to the poor and needy. And Allah Almighty knows best.

Is it permissible to sleep before the time of the Fajr prayer begins, with the intention of waking up shortly afterward?

All praise is due to Allah, and peace and blessings be upon our master, the Messenger of Allah.
It is permissible for a Muslim to sleep before the time of the Fajr prayer begins, intending to wake up and perform the prayer, by setting an alarm or asking someone to wake him. What is to be avoided is that a person sleeps while he predominantly assumes that he will not wake up for the prayer.
If he does not wake up until the time of the prayer has ended, he must make it up. It is recommended that he hasten to make it up as soon as he wakes, and likewise recommended that he make up its sunnah along with it.
It is stated in al-Majmūʿ by Shaykh al-Islām Imam al-Nawawī (may Allah have mercy on him): “Whoever was obliged to pray and did not pray until the time passed must make it up, because of the saying of the Prophet (peace and blessings be upon him): ‘Whoever sleeps through a prayer or forgets it, let him pray it when he remembers it.’ It is recommended that he make it up immediately, because of the ḥadīth we have mentioned. If he delays it, that is permissible, because it is reported that the Prophet (peace and blessings be upon him) missed the Fajr prayer and did not pray it until he had left the valley. Had it been required immediately, he would not have delayed it. Abū Is-ḥāq said: If he left it without a valid Sharia excuse, he must make it up immediately, because he was negligent in delaying it.”
It is therefore the duty of every Muslim to keep the prayer in its proper time, seeking help from Allah the Exalted and striving against the self to do so. And Allah Almighty knows best.

If someone fasts on the White Days with the intention of making up for missed fasts (qada), will they receive the reward for both voluntary and obligatory fasting?

Making up missed obligatory fasts (qada) is mandatory, and the intention for qada must be specified.
If a person makes up their missed Ramadan fasts on the White Days, they must intend qada, but they may also intend to fast the White Days, and Allah willing, they will receive the reward for both.
This is similar to entering a mosque and praying an obligatory prayer, where the person also earns the reward of Tahiyyat al-Masjid (greeting the mosque) if they intend both.
● If the person missed their fasts due to a valid excuse, they may wait and fast on the White Days.
● However, if they missed the fasts without a valid excuse, they must make up the fasts immediately and should not delay them until the White Days.