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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 the person who hasn`t made wudu` (state of minor ritual impurity) to perform the Adhan?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is disliked (Makruh) for a person in a state of minor ritual impurity (Hadath Asghar) to perform the Adhan. However, if he does so, his Adhan is considered valid and fulfills the sunnah of the Adhan despite it being disliked. And Allah the Exalted knows best.

Does touching women temporarily forbidden in marriage nullify ablution?

It is prohibited to touch, or to shake hands with such women as they are considered strangers, and doing so nullifies ablution.

Who is responsible for performing the aqiqah?

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
The one upon whom the 'aqīqah is incumbent is whoever is obligated to financially maintain the newborn — whether the father, paternal grandfather, or mother. It is to be performed from their own wealth, not from the wealth of the newborn child.
As for one upon whom the financial maintenance of the newborn is not obligatory, they may not perform the 'aqīqah except with the permission of the one upon whom it is obligatory — namely, the father. And Allah Almighty knows best.

Can a person required to give kaffarah feed it to their own family members?

The kaffarah must be given to the poor and needy who are not financially dependent on the one giving the kaffarah.
If a person feeds it to their own family members, it does not count as kaffarah, and their obligation remains unfulfilled.

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