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Resolutions of Iftaa' Board

Resolution No.(163): "Ruling on the Sukuk of Ijarah Ending in Ownership Issued by Al-Rajihi Cement Company"

Date Added : 01-12-2015

Resolution No.(163)(1/2011) by the Board of Iftaa`, Research and Islamic Studies:

"Ruling on the Sukuk of Ijarah Ending in Ownership Issued by Al-Rajihi Cement Company"

Date: 25/3/1432 AH, corresponding to 28/2/2011

 

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 date, the Board reviewed the question of Al-Rajihi Cement Company-Jordan regarding the Sukuk of Ijarah ending in ownership.

After researching and deliberating, the Board decided what follows:

Taskeek is issuing documents, or financial certificates of equal value as indefinite shares in existing assets (properties, benefits, rights, or a mixture of properties, benefits, money, and debts), or will be established by virtue of initial public offering, and are issued in accordance with a Sharia-compliant contract.

Having reviewed the mechanism of issuing those Sukuk, the Board decided that they are permissible in Sharia, provided that the assets of the Ijarah are sold to the tenant for a reasonable price at the end of the leasing (Ijarah) period. Moreover, there must be no capital assurance by either party, and the Sharia rules sanctioned by the Sharia Supervisory Committee must be adhered to. 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

Dr. Yahia Al-Botoosh/ Member

Sheikh Sa`eid Hijjawi/ Member

Dr. Mohammad Khair Al-Eesa/ Member

Judge Sari Attieh/ Member

Dr. Abdulrahman Ibdah/ Member

Dr. Mohammad Al-Ibraheem/ Member

Dr. Abdulnaser Abu Al-Basal/ Member

Dr. Mohmmad Al-Khalayleh/ Member

Dr. Mohammad Al-Gharaibeh

Sheikh Mohammad Al-Hinaiti/ Executive Secretary of the Iftaa` Board

 

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Summarized Fatawaa

Is it correct that everything dry is pure even if it has impurity on it?

If something impure becomes dry, it remains impure and is not purified by drying. However, the impurity does not transfer by touching it if the one touching it is also dry. And Allah the Almighty knows best.

What is the difference between Qiyam al-Layl and Tahajjud?

● Qiyam al-Layl refers to any voluntary prayer performed at night, including Tarawih.
● Tahajjud specifically refers to voluntary prayer performed at night after waking up from sleep.
Glad tidings to those who combine both, as numerous Quranic verses and hadiths mention their virtues.
Allah Almighty says {what means}: "And rise from thy sleep and pray during part of the night [as well], as a free offering from thee, and thy Sustainer may well raise thee to a glorious station [in the life to come." [Al-Isra`/79]
The Prophetﷺ said: "Whoever stands (in prayer) during Ramadan with faith and seeking reward, all their past sins will be forgiven." [Agreed upon]

What is the ruling on Tarawih prayer?

Tarawih prayer is a confirmed Sunnah (Sunnah Mu’akkadah).

Is it Sunnah to cook the meat of the 'aqīqah?

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
It is Sunnah not to distribute the meat of the 'aqīqah raw. Rather, it is recommended to cook it with something sweet — such as raisins or honey — as a good omen and expression of hope for the sweetness of the newborn's character and conduct throughout their life. And Allah Almighty knows best.

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