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Resolutions of Iftaa' Board

Resolution No.(18): "Ruling on Islamic Mudarabah for Social Solidarity"

Date Added : 15-12-2015

Resolution No.(18) by the Board of Iftaa`, Research and Islamic Studies: 
"Ruling on Islamic Mudarabah for Social Solidarity"
Date: 10/5/1411 AH, corresponding to 27/11/1990

We have received the following question:

What is the ruling of Islamic Sharia on Islamic Mudarabah (co-partnership) for social solidarity and investment for protecting employers, Rahn (security) and students?

Answer:

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.

Over several sessions, the Board has reviewed the above system of Mudarabah. After thorough examination of its particulars pertaining to the protection of employers, Rahn and students, the Board found that they involve no violation to the rules of Islamic Sharia; therefore, it approves them as they are. And Allah Knows Best.

 

Chairman of the Iftaa` Board, Chief-Justice, Mohammad Mohailaan    

The Grand Mufti of Jordan, Izuldeen Al-Tamimi

Sheikh Ratib Az-zahir

Dr. Abdulsalam Abbadi

Dr. Yaseen Daradkeh

Dr. Ahmad Hilayel

Ibrahim Khashan

Dr. Ibrahim Zeid Al-Kilani

 

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Summarized Fatawaa

Who are the blood-relatives with whom kinship ties should be maintained?

Blood-relatives are those from the side of one`s father and mother: grandfathers, grandmothers, uncles, and aunts. And Allah Knows Best.

I work at a company that provides cash advances of 800 dinars, 1000 dinars, or 1200 dinars, depending on the employee’s years of service. An administrative fee of 40 dinars is deducted from the amount in the first month, and the remaining amount is repaid in installments. What is the ruling on this, knowing that the deducted amount (40 dinars) is fixed?

We fear that the deducted amount may be a means of circumventing interest (Riba). If the deducted amount is equal to or less than the actual administrative expenses, then there is no issue, as some scholars permit the borrower to bear the costs of documenting and managing the loan. However, piety suggests refraining from taking this loan under these conditions, as dealing with private individuals and companies is not the same as dealing with the state, which spends from the public treasury. And Allah Knows Best.

What is the ruling on a vowed animal sacrifice?

A vowed animal sacrifice is to be distributed amongst the poor and needy, and neither the vow-maker, nor those supported by him are to eat from it.

Who should pay the Zakah (obligatory charity) from the orphan`s money?

His/her guardian, and if the latter fails to do so, then the orphan himself/herself is obliged to pay the Zakah once he/she reaches puberty, and is capable of handling his/her own affairs. And Allah Knows Best.

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