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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 the prayer of a woman who is led by an Imam via T.V. permissible?

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.                                                                                                                                                                                                                          Amongst the conditions for the validity of prayer is that both the Imam and those led by him must be in the same place. Thus, the prayer of the person who is being led by a televised Imam is invalid unless he/she was with him in the same mosque. And Allah Knows Best.

What is the ruling on the ablution of one who cuts his nails, and is it permissible to cut them before the ritual bath for major impurity (janabah)?

Cutting nails does not invalidate ablution, and it is permissible to cut them before the ritual bath for major impurity. And Allah the Almighty knows best.

Is a woman`s prayer considered invalid if non-Mahrams (marriageable men) saw her offering it?

A woman`s prayer isn`t invalidated if non-Mahrams saw her offering it, but she had better pray in isolation.

Is it permissible for a husband to stop his wife from visiting her family?

A husband shouldn`t stop his wife from visiting her family, and it is disliked for him to do so because such an act makes them harbor feelings of hatred against him.

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