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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

A man cursed Allah, is he allowed to perform prayer without making Ghusl?

All perfect praise be to Allah the Lord of the Worlds. May Allah`s peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
 
Cursing Allah is an act of apostasy and one who commits it must utter the testimonies of faith, make repentance, take back wife; however, it isn`t conditioned that he makes Ghusl (Full body ritual purification) to pray. And Allah The Almighty Knows Best.

There is a car dealership, and their method of selling is as follows: The customer pays the full price of the car, the car is registered in their name, and another contract is written in which the company commits to refunding the full price of the car to the customer after one year from the purchase date. What is the Islamic ruling on this transaction?

As for purchasing the car, paying its price, and owning it, this is a valid sale with no issue. However, the condition of refunding the price — whether the car is returned to the seller or not — is an invalid condition that nullifies the entire contract. Therefore, this transaction is invalid and not permissible. And Allah Knows Best.

A man has married a second wife and deprived the first from provision and overnight stay. He spent most of his time and wealth on his second wife. After sometime, the latter got sick and was diagnosed with breast cancer, which made him forsake her in bed and return to his first wife. What is the position of Sharia on this?

All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon Prophet Mohammad and upon all his family and companions.
It is forbidden for a woman to forsake her husband in bed without a lawful excuse since this is one of the mutual rights of spouses. When the wife abstains from making love to her husband without a lawful excuse, she is considered sinful. This is because the Prophet (PBUH) said: "If a woman spends the night deserting her husband's bed (does not sleep with him), then the angels send their curses on her till she comes back (to her husband)." [Agreed upon]. And Allah The Almighty Knows Best.

What is the ruling when a woman forsakes her husband in bed because he doesn`t pray regularly?

All perfect 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.
He must pray regularly so as not to be admitted into Hell; however, you must obey him in lawful matters even if he doesn`t pray on regular basis because he is considered a disobedient Muslim and not an infidel. And Allah The Almighty Knows Best.

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