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Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

Resolution No.(43): "Ruling on the Amendments of the Islamic International Arab Bank`s Certificate of Incorporation and Statute"

Date Added : 07-12-2015

 

Resolution No.(43): "Ruling on the Amendments of the Islamic International Arab Bank`s Articles of Association and Statute Regualtions"

Date: 25/7/1420 AH, corresponding to 13/11/1999

We have received the following question:

Do the certificate of incorporation and the statute of the Islamic International Arab bank comply with the rulings of Islamic Sharia?

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.

Answer: The Board has decided to approve the amendments indicated in the above letter, and which comply with the rulings of Islamic Sharia, provided that paragraph (D) of article (28) is rewritten to read as follows:

Paragraph (D) The other precautions:

Any percentage of the profits based on the suggestion of the administrative board and the approval of the general authority in favor of any other precautions, regardless of their name or purpose, in the best interest of the company and its course of business, provided that this deduction is made after that of the income tax. And Allah Knows Best.

Chairman of the Iftaa` Board, Chief Justice, The Grand Mufti, Sheikh Izuldeen At-tamimi

Sheikh Sa`eid Al-Hijjawi

Dr. Yousef Ali Ghyzaan

   Dr. Mahmoud Al-Bakheet

   Dr. Abdulsalam Al-Abbadi

Sheikh Sa`eid Shewayat

                     Executive Secretary of the Iftaa` Board, Na`eim Mujahid

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Summarized Fatawaa

What`s the ruling on using the following materials in manufacturing cosmetics: olive oil, Vaseline, talc powder, glycerin, honey, almond oil, pine oil, galingale and marjoram?

All perfect praise be to Allah, The Lord of The Worlds, and may His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.                                                                                                                                                                                                                                    None of the above materials is forbidden, and it`s lawful to use them in manufacturing products that are beneficial to people. This is because, in principle, all things are lawful so long as there is no evidence in Sharia indicating otherwise. And Allah Knows Best.

Is vomit among the nullifiers of Wudu (ablution)?

Vomit does not nullify Wudu, but it is a Najaasah (impurity) that requires rinsing the mouth and washing whatever became dirty by it since the prayer becomes valid only after the removal of Najaasah. And Allah Knows Best.

Is Zakah (obligatory charity) due on land intended for selling?

Yes, lands intended for trade are valued, and Zakah is paid according to their estimated value after a lunar year had lapsed, but if the owner didn`t pay the due Zakah, then he should do so after selling them.

Is abortion permissible when the family isn`t ready to receive a new baby?

Abortion is forbidden unless it constituted a serious threat against the mother`s life based on the opinion of trustful and God fearing physicians.

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