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Resolutions of Iftaa' Board

Resolution No.(87): “Ruling on Purchasing Stocks of a non-Islamic Bank“

Date Added : 25-02-2020

Resolution No.(87) by the Board of Iftaa`, Research and Islamic Studies: “Ruling on Purchasing Stocks of a non-Islamic Bank“

Date: 2/4/1426 AH, corresponding to 11/5/2005 AD

 

Question: What is the ruling of Sharia on purchasing stocks of a non-Islamic bank?

Answer: All success is due to Allah.
The Board is of the view that purchasing stocks of non-Islamic banks is forbidden in principle because Allah The Almighty Says {what means}: “Those who devour usury will not stand except as stand one whom the Evil one by his touch Hath driven to madness. That is because they say: "Trade is like usury," but God hath permitted trade and forbidden usury. Those who after receiving direction from their Lord, desist, shall be pardoned for the past; their case is for God (to judge); but those who repeat (The offence) are companions of the Fire: They will abide therein (for ever).” {Al-Baqrah/275}. One who has purchased such stocks and wants to make repentance should suffice by taking his money{capital} without any increase, for Allah, The Almighty Says in this regard {what means}: “O ye who believe! Fear God, and give up what remains of your demand for usury, if ye are indeed believers. If ye do it not, Take notice of war from God and His Apostle: But if ye turn back, ye shall have your capital sums: Deal not unjustly, and ye shall not be dealt with unjustly.” {Al-Baqarah 278/279}. Therefore, it is imperative that he/she takes back his/her money {capital} without any increase since what is begotten through a forbidden act is forbidden as well. And Allah Knows Best.

 

Board of Iftaa`
Chairman of the Iftaa` Board, Chief Justice, Izzaldeen At-Tamimi
Dr. Abdulsalam Al-Abbadi                        Dr. Yousef Ghyzaan
Sheikh Saeid Hijjawi                                  Sheikh Naeim Mojahid
Sheikh AbdulKareem Al-Khasawneh      Dr. Wasif Al-Bakri
Dr. Abdulsalaam Al-Salaheen                   Dr.Abduaziz Al-Khayaat

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Summarized Fatawaa

How is Laylat al-Qadr observed?

Laylat al-Qadr is observed through various acts of worship and obedience, including:
● Performing obligatory, Sunnah, and voluntary prayers
● Reciting the Quran
● Increasing remembrance (dhikr) of Allah
● Giving charity
● Performing I‘tikaf
● Inviting others to Allah
It is also Sunnah to increase in supplication and humbly beseeching Him, Glorified and Exalted be He.

What should one who doubts the validity of his ablution and performs it frequently do?

Whoever doubts the validity of his ablution after finishing it, his ablution is valid. This is because the default is the validity of the ablution, and because doubt after finishing an act of worship doesn`t affect its validity. And Allah the Almighty knows best.

How can I love the prayer (Salah) and start praying?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Love for the prayer (Salah) comes when you realize that this world is fleeting and the Hereafter is everlasting. Your prayer is the righteous deed that will comfort you in your grave and be your salvation before Allah in the Hereafter. Do you not wish to attain tranquility in this life and Paradise in the next? Reflect upon your state and do not delay, for life does not wait. We ask Allah to grant us and you steadfastness (Thabat).

What is the ruling on someone who doesn`t perform prayer?

All perfect praise be to Allah,The Lord of The Worlds                                                                                                                                                                    Not performing prayer is a major sin, and one who doesn`t pray out of laziness is considered an oft-sinner ;whereas, the one who denies that it is mandatory is considered a disbeliever. And Allah Knows Best.

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