عربي
Home


Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

Date Added : 02-11-2015

 

Resolution No.(181)(13/2012) by the Board of Iftaa`, Research and Islamic Studies:

"Islamic Banks Subscribing in the Jordan Deposit Insurance Corporation"

Date: 4/11/1433 AH, corresponding to 20/9/2012.

 

All perfect praise be to Allah, The Lord of The Worlds and may His blessings and peace be upon our Prophet Mohammad and upon all his family and companions.

On the above given date, the Board reviewed the question sent by the Director-General of the Jordan Deposit Insurance Corporation (JODIC), which reads as follows: What is the ruling of Islamic Sharia on deposits insurance at  Islamic banks and reviewing the amendment of the Corporation`s draft-law pertaining to that?

After researching and deliberating, the Board arrived at the following view:

Deposits at Islamic banks enjoy special characteristics compared to those at non-Islamic banks, because of the difference in the types of accounts.

Therefore, the Board approves of the draft-law which stipulates binding Islamic banks with the insurance of their credit accounts. As regards investment accounts, the annual subscription paid to the Deposit Insurance Corporation should be collected from the holders of these accounts as a deduction against risk. This binds the Corporation to create two independent portfolios at the deposit insurance fund of the Islamic banks, one for the insurance of credit accounts deposits and the other for the investment accounts deposits.

It was made clear to the Board that the amended draft-law rests on values of solidarity and cooperation, and that the amounts paid on this basis are considered donations , and that it (draft-law) aims at protecting people`s funds against risk. In case of liquidation, the capitals of this fund are deposited at the Zakat Fund of the Ministry of Awqaf and Islamic Affairs and Holy Places.

Accordingly, the Board is of the view that establishing this fund for the insurance of deposits at Islamic banks is permissible, and that the suggested amendments of the draft-law comply with the accredited standards of Islamic Sharia. And Allah Knows Best.

 

Chairman of the Iftaa` Board, The Grand Mufti of Jordan: Sheikh AbdulKareem al-Khasawneh

Vice-Chairman of the Iftaa` Board, Dr. Ahmad Hilayel

Prof. Abdulnasser Abulbasal / Member

Dr. Yahia al-Botoosh / Member

Sheikh Sae`id Hijjawi / Member

Prof. Mohammad al-Qhodat / Member

Dr. Mohammad Al-Khalayleh / Member

Dr. Mohammad Khair Al-Esa / Member

Dr. Mohammad  al-Z`obi / Member

 

Decision Number [ Previous | Next ]


Summarized Fatawaa

What is the ruling on reciting verses from the Qur'an over water, drinking it, and using it to break magic spells, heal illnesses, or burn jinn?
 
 
 
 
 

There is no harm on reciting verses of the Holy Qur'an over water and use it for cure. And Allah Knows Best.

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.
 
 
 
 
 
 
 
 

Is it permissible to offer the Eid sacrifice in a non-Muslim country?

Eid sacrifice is permissible anywhere, and Islamic Sharia hasn`t determined that it should be in an Islamic country, but poor Muslims should be given a share in order for it to be valid since it is an act of worship. A portion of that Eid sacrifice should be given at least to one poor Muslim, and if that wasn`t possible then the one offering it should consume it along with his family.

I can`t afford to get married, what should I do to curb my sexual drives?

You should offer a lot of voluntary fasting, keep busy with useful and permissible acts and make supplication to Allah, The Exalted.

See More