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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 it permissible for the wife to give the Zakah (obligatory charity) of her money to her poor husband?

Yes, it is permissible for the wife to give from the Zakah of her money to her poor husband. And Allah Knows Best.

Is it incumbent on a father to cover the marriage costs of his son if the latter couldn`t afford them?

The son should seek the help of his relatives in order to convince his father to do the aforesaid, and the father should make sure that his son doesn`t commit fornication through helping him to get married, and Allah will reward him for doing so.

What is the ruling on attending relatives` parties held in public halls, or hotels since if we don`t, we will be subjected to their admonition?

If such parties involve mixing between men and women, or forbidden acts such as listening to songs with sinful lyrics, then attending them is forbidden from the view point of Sharia since people`s admonition is nothing compared to Allah`s, The Almighty`s, wrath.

What should a worshiper who has forgotten a pillar of prayer do?

If he/she remembered the forgotten pillar before offering it in the following Rakah (unit of prayer), then he/she should offer it, and continue the prayer, then offer Sujood As-Sahw (Prostration of forgetfulness) at the end of it. But, if he/she remembered that forgotten pillar after having offered it in the following Rakah, then he/she should offer a new Rakah in its (the one in which he forgot a pillar) place, and offer Sujood As-Sahw.

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