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Resolutions of Iftaa' Board

Resolution No.(111): “Ruling on the Profits Yielding from the Operating of the Savings Bank Funds of the Arab Potash Company`s Staff at Jordan Export and Finance Bank and Jordan International Insurance Company

Date Added : 28-10-2015

 

Resolution No.(111): "Investing Profits of Arab Potash Company Deposit Staff's Fund at Jordan Export and Finance Bank and Jordan International insurance Co."

Date: 23/7/1427 AH, corresponding to 17/8/2006 AD.

 

The Board received the following question:
What is the ruling of Islamic Sharia regarding the profits yielding from operating the savings bank`s funds of the staff of the Jordan Potash Company at Jordan Export and Finance Bank and Jordan Insurance Company?
Answer: All success is due to Allah
The Board is of the view that the aforementioned profits are unlawful, for Allah The Almighty Says in the Noble Quran {what means}: “If ye do it not, Take notice of war from God and His Apostle: But if ye turn back, ye shall have your capital sums: Deal not unjustly, and ye shall not be dealt with unjustly.“ {Al-Baqarah/279}. Therefore, they should be disbursed in favor of the poor, the needy, and public interest. And Allah Knows Best.

The Iftaa' Board
Chairman of The Iftaa' Board/Cheif Justice/ Dr. Ahmad Hilayeel
    Dr. Yousef Ali Ghythan
                   Dr. Abd-Al-Majeed Al- Salaheen
Dr. Wasif Al Bakhry
                            Sheikh Abd-Al-Kareem Al-Khsawneh
    Sheikh Sa'eed Hijjawi
          Sheikh. Na'eem Mojahed

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Summarized Fatawaa

A person bought a device through a usurious bank, and receives income from it every month after paying the bank for the price. Now the person regrets it, what should he do now?

This person has fallen into what is forbidden due to dealing with usury. He must repent sincerely, and whoever repents, Allah Will Accept their repentance. As for the device, there is no need to sell it. And Allah Knows Best

Which is better, to pray at a prayer place (Musala) whereas many people pray in it, or at a near by mosque in which a few people perform prayer?

Praying at the mosque that has a bigger number is better so long as the number of praying people at the other mosque permits performing prayers in congregation. And Allah Knows Best.

Is it permissible for a guardian (Big brother) to unlawfully stop his sister from getting married?

If the guardian denies her right in getting married for an unlawful reason, she should go to court in order to settle that matter, and the guardian is considered sinful in this case.

Is Buying a house in installments through banks?

Taking a loan from interest-based banks is prohibited and considered a major sin. Instead Getting a loan from Islamic banks is considered Murabaha and can be used as an alternative, provided all the necessary Islamic conditions are met. And Allah Knows Best.
 
 
 
 
 
 
 
 

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