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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

Is it permissible for one to give the Zakah (obligatory charity) to his indebted brother?

It is permissible for one to give the Zakah to his brother if he was indebted, or poor.

What is the ruling on a mother giving the Zakat of her wealth to her children?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible for a mother to give her children from the Zakat if they are among those who are eligible for it—such as being poor (Fuqara), possessing no wealth, and not being sufficiently provided for by the maintenance (Nafaqah) of others. This is based on the statement of the Messenger of Allah ﷺ regarding Zaynab, the wife of 'Abdullah ibn Mas'ud (may Allah be pleased with them both): (Your husband and your children are the most deserving of those upon whom you spend in charity) [Narrated by Al-Bukhari].
 
It is stated in [Al-Hawi al-Kabir, Vol. 8/P.537]: 'As for the wife, it is permissible for her to pay her Zakat to her husband from all the designated shares... Our evidence is the generality of the saying of Allah the Almighty: "Zakat expenditures are only for the poor and for the needy", and the Hadith of Abu Hurairah that the Prophet ﷺ said to Zaynab, the wife of 'Abdullah ibn Mas'ud: (Your husband and your children are the most deserving of those upon whom you spend), and this is taken in its general sense.' And Allah the Exalted knows best.

Is it permissible for a woman to wear underwear while performing Umrah?

Yes, it is permissible for a woman to wear underwear while performing Umrah. This is because she should keep her regular clothes that cover all her body while being in a state of Ihram (ritual consecration) for Hajj, or Umrah. However, she should uncover her face and hands, but it is permissible for her to let her head-covering garment drape from her head down over her face when non-Mahram (i.e., marriageable) men pass by her. And Allah Knows Best.

Who is the "Capable Person" for whom the Udhiyah is recommended?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.

The "Capable Person" (Al-Qadir): This refers to anyone who possesses surplus wealth beyond their own essential needs and the financial maintenance of their wife, children, or whoever is under their legal care, during the day of Eid and the three days of Tashreeq (the 11th, 12th, and 13th of Dhul-Hijjah), as this is the designated timeframe for the sacrifice. And Allah Knows Best.

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