Resolution No.(33): "Ruling on Investing Orphans` Funds into Development Bonds“
Date: 7/11/1413 AH corresponding to 29/4/1993 AD.
The Board has received the following question:
What is the Sharia ruling on investing orphans` funds in development bonds and treasury bills?
Answer: All success is due to Allah.
The Board is of the view that it is forbidden because it is a usury-based loan. And Allah Knows Best.
Chairman of the Iftaa` Board, Chief Justice Dr.Nooh Al-Qodaat
Deputized Grand Mufti of Jordan, Sheikh Saeid Hijjawi
Mufti of Jordanian Armed Forces, Mahmood Shwayat
Dr. Abdassalam Al-Abbadi
Dr. Ahmad Hilayil
Dr. Abdolmajeed Assalaheen
Dr. Ratib Azzahir
Dr. Mahmood Assartawi
Dr. Ibrahim Khash-shan
Dr. Abdulaziz Al-Khayaat