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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

What should I do in order to wake up for Fajr (dawn) prayer?

All perfect praise be to Allah, The Lord of The Worlds                                                                                                                                                                What should I do in order to wake up for Fajr (dawn) prayer? Answer: Some of the acts that aid in offering Fajr prayer are: 1- Going to bed early. 2-  Willingness to wake up. 3- Reciting Al-Korsi verse from Chapter Al-Baqarah. 4- Taking refuge in Allah from the cursed devil, and making ablution immediatley after being awake, but it is preferable to ask someone to help in this regard to perform the Fajr prayer. And Allah Knows Best.

What is the ruling on offering the sacrifice (uḍḥiyah) using the wealth of a minor or a legally incompetent person (safīh)?

Praise be to Allah, and peace and blessings upon our master, the Messenger of Allah.
It is not permissible for the guardian (walī) of an orphan or a legally incompetent person (safīh) to offer the sacrifice (uḍḥiyah) on behalf of the minor or the safīh using their wealth, because the guardian is charged with exercising caution over their wealth and is prohibited from giving any of it away voluntarily, and the udḥiyah is a voluntary act of charity (tabarru'). The guardian may, however, offer the sacrifice using his own personal wealth. And Allah, the Most High, knows best.

Is it permissible to slaughter a sheep on Eid al-Adha with the intention of charity (sadaqah) on behalf of a sick person, and with the intention of udhiyah (sacrificial animal) at the same time?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
The udhiyah (sacrificial animal) is an act of worship intended for its own sake; therefore, it must be slaughtered with the intention (niyyah) of udhiyah.
 
Whoever intends to draw closer to Allah through this act of obedience with the intention of udhiyah, and also intends to gift the reward to another person, there is no Islamic objection to that. And Allah Almighty knows best.

Is it permissible to divide a single Sa‘ of Zakat al-Fitr—or its equivalent value in cash—among more than one poor person?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Zakat al-Fitr is estimated at one Sa‘ per person, but the number of people to whom this Sa‘ can be given has not been specified. For this reason, it is permissible to distribute a single Sa‘ among more than one poor person. And Allah the Exalted knows best.

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