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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

Is Zakah (obligatory charity) due on owned land?

Zakah is due on the land used as an article of merchandise and was originally bought for that end. Zakah is due on it at the end of every lunar year. Its value is estimated, and (2.5%) of the total value of all such lands owned by the questioner is given as Zakah. However, no Zakah is due on the land used for building a house, or an agricultural purpose.

What is the ruling on the yellow discharge that comes from a woman during pregnancy?

These discharges are not menstrual blood, but they are impure like urine and break the Wudu (ablution). If the discharge is frequent, its ruling is similar to that of urinary incontinence. The woman should perform wudu after the time of each prayer, pray the obligatory prayer, and any additional prayers she wishes, read the Quran, and take precautions against impurity to the best of her ability. Using a special pad can prevent the impurity from spreading. And Allah Knows Best.

During a flight from Amman to the UAE, while we were flying over Saudi Arabia, the captain announced that it was time to break our fast, coinciding with the exact time of sunset. After I had broken my fast with my first date, the captain apologized for the earlier announcement and clarified that the correct time would be in 20 minutes. Am I required to continue fasting on that day?

Whosoever break his fast at teh very first announcement to make up the missed day of Ramadan, since Allah, The Most Exalted, Said (What means): "then complete your fast Till the night appears" [Al-Baqara/187]. And Allah Knows Best.

Is permissible to buy/sell with non-Muslim?

Yes buying/selling for a Muslim with non-Muslim is permissible as regards what is lawful.

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