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Resolutions of Iftaa' Board

Resolution No.(34): “Ruling on the Investments of the Social Security Fund for Education through Depositing Funds in Usurious Banks or Purchasing Stocks“

Date Added : 28-10-2015

 
Resolution No.(34): "Ruling on the Investments of the Social Security Fund for Education through Depositing Funds in Usurious Banks or Purchasing Stocks"

Date: 28/11/1413 AH corresponding to 20/5/1993 AD.

The Board has received the following question:

What is the ruling of Sharia on the investments of the Social Security Fund for education, where funds are deposited in the Housing Bank against an interest, stocks are purchased from Jordan-Gulf Bank and General Arabia Insurance Company, development bonds are purchased from Jordan`s Central Bank, debenture bonds of Water Authority are purchased from Jordan`s Central Bank, and stocks are purchased in the Arab International Hotels Company?

Answer: All success is due to Allah.

The Board is of the view that purchasing stocks in a usurious institution is forbidden because it involves employing the invested money in forbidden activities, and this applies to purchasing funds in Jordan-Gulf Bank, development bonds issued by the Central Bank, and debenture bonds of the Water Authority from the Central Bank.

As regards depositing funds in a usurious bank against an interest, such an activity is forbidden as well, and this applies to depositing funds in the Housing Bank against an interest.

However, the permissibility of purchasing shares in companies in general depends on the nature of the activity of such companies, so if the activity is lawful, then purchasing the shares is lawful; if not ,then it isn`t. And Allah Knows Best.

 

Chairman of the Iftaa` Board, Chief Justice Dr.Nooh Al-Qodaat

Acting Mufti General, Sheikh Saeid Hijjawi

Mufti General of Jordanian Armed Forces: Mhamood Shwayat

             Dr. Abdassalam Al-Abbadi

Dr. Ahmad Hilayel

   Dr. Yousef Ghizaan

           Dr. Mahmood Al-Sartawi

             Dr. AbdulAziz Al-Khaiyaat

            Dr. Ibrahim Khash-shaan

       Sheikh Ratib Az-zahir

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Summarized Fatawaa

Is it permissible to repeat the Istikhara (seeking guidance) prayer, and is it a condition that one should sleep after offering it?

All perfect praise be to Allah,The Lord of The Worlds                                                                                                                                                            Istikhara is offered once, but it is permissible to repeat it, and sleeping after offering it is not a condition for its validity. And Allah Knows Best.

I`m a Muslim woman and have fallen in love with a Christian man. Supposing that he embraced Islam. Is it permissible that he proposes to me?

Praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
The relationship between you two is forbidden; however, if he wants to embrace Islam then he should pay a visit to a Sharia court. Once he becomes a Muslim, we will address the matter of proposing to you. And Allah The Almighty Knows Best.

I work for a company whose manager refuses to allow employees to leave during work hours. Do I incur sin if I secretly went out to join the congregation at the Masjid? Is doing so considered a breach of trust?

Praise be to the Lord of the Worlds.

We recommend that you pray at work to encourage your colleagues to follow suit, because whoever guides to good has the like of the reward of the person who actually does it. And Allah The Almighty Knows Best.

I have mixed (halal and haram) money, and I want to purify it. My father is poor, and I want him, my mother, and my mother-in-law to perform Hajj, along with myself and my wife, as they need care due to their old age. Is it permissible to use this money for Hajj, or what should I do with it? Please advise.
 
 
 
 
 

If you knew the exact amount of unlawful money, then you should give as a charity, and if didn't then try to figure out the closest amount in order to give it as a charity. 
As for performing Hajj, perform it by using your lawful money. May Allah Bless you for being dutiful to your parents and your mother in law and for your attempt to serve them, And Allah Knows Best.

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