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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 a menstruating woman obliged to pray during menses, and should she make up missed prayers?

All perfect praise be to Allah, The Lord of The Worlds                                                                                                                                                                        A menstruating woman is prohibited from prayer during her menses, and she isn`t obliged to make up missed prayers. And Allah Knows Best.

Is it permissible to fast on behalf of the dead who died owing missed fast to make up?

His relative should fast on his behalf, and it is permissible for the guardians to give permission to non-relatives of the dead to fast on his behalf as well. And Allah Knows Best.

What husband's stand should be, if his wife disagrees with his mother?

Both the mother and the wife have rights on you (Questioner); therefore, you are obliged to treat both justly, resort to wisdom to please both and intiate reestablishing cordial relations among them. And Allah Knows Best.

Is the woman who do breastfeeding permitted to break the fast during Ramadan?

It is permissible for pregnant and breastfeeding women to break their fast during Ramadan if they fear harm to themselves or their child. However, they must make up for the missed fasts. If the fast is broken out of concern for the fetus or the baby, expiation (Fidya) is also required along with making up the missed fasts. The expiation involves feeding one needy person with an amount equivalent to a Mudd of food (approximately 600 grams of wheat or rice) for each day of missed fasts. If the fast is broken out of concern for the woman's own health, only making up missed fasts is obligatory. And Allah Knows Best.
 
 
 
 
 
 

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