Resolutions of Iftaa' Board



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 is the ruling on someone who dies while having missed fasts?

● If a person dies before having the opportunity to make up the missed fasts—such as someone whose excuse (e.g., illness) persisted until their death—then no makeup fast (qada), fidyah, or sin applies to them.
● However, if they had the ability to make up the fasts but did not do so before passing away, the missed fasts must be compensated by giving a mudd of food for each missed day from their estate.
The Prophet ﷺ said: "Whoever dies while having a month’s fast due, one needy person should be fed per day on their behalf." [Narrated by At-Tirmidhi]
Additionally, a guardian (wali) may fast on their behalf, as the Prophet ﷺ said: "Whoever dies while having missed fasts, their guardian should fast on their behalf." [Narrated by Al-Bukhari and Muslim]
In another narration: "If they wish." This indicates that both feeding the needy and fasting on behalf of the deceased are permissible options.

What is the wisdom behind legislating the Udhiyah?

The Muslim must know that through the Uḍḥiyah, he complies with the command of Allah, the Exalted, and performs a worship that brings him closer to Allah and distances him from the Fire.
 
The Uḍḥiyah holds profound wisdoms and noble meanings, including:
 
1-Reviving the Sunnah of Abraham, peace be upon him: He complied with Allah's command when He ordered him to slaughter his son Ishmael. Abraham, peace be upon him, succeeded in the test, and when he was about to slaughter his son, Allah sent down a ram to ransom Ishmael and commanded him to slaughter it instead. Allah, the Exalted, says {what means]: "And when he reached with him [the age of] exertion, he said, 'O my son, indeed I have seen in a dream that I [must] sacrifice you, so see what you think.' He said, 'O my father, do as you are commanded. You will find me, if Allah wills, of the steadfast.' And when they had both submitted and he put him down upon his forehead, We called to him, 'O Abraham, You have fulfilled the vision.' Indeed, We thus reward the doers of good. Indeed, this was the clear trial. And We ransomed him with a great sacrifice." [Al-Ṣāffāt/102-107]. Thus, the sacrificial offering became an enduring Sunnah until the Day of Judgment, and Muslims offer their wealth as sacrifices, drawing closer to Allah, the Exalted, reviving this great Sunnah.
 
2-Providing abundance for people on Eid day and the Days of Tashrīq: Among the wisdoms of the Uḍḥiyah is that the Muslim provides generously for his family, neighbors, relatives, and the poor during these days. The Muslim is encouraged to eat from his sacrifice, give charity from it to the poor, and gift from it to his wealthy neighbors. Thus, goodness spreads throughout the entire community. The Prophet, peace and blessings be upon him, said: "The Days of Tashrīq are days of eating and drinking." (Narrated by Muslim). Allah, the Exalted, says {what means}: "And the camels and cattle We have appointed for you as among the symbols of Allah; for you therein is good." [Al-Ḥajj/36]. This good includes the good of both this world and the Hereafter.

What is recommended for a Muslim to say on Laylat al-Qadr?

On Laylat al-Qadr, it is recommended for a Muslim to recite the supplication (du‘a) that the Prophet ﷺ taught Aisha (may Allah be pleased with her):
"O Allah, You are Most Forgiving, and You love forgiveness, so forgive me." [Narrated by Al-Tirmidhi]

What should a person who doubted having missed a pillar of prayer do?

All praise be to Allah, The Lord of The Worlds.                                                                                                                                                                              The prayer of one who doubts having missed one of its pillars is valid, and nothing is due on him/her since having a doubt after offering the act of worship doesn`t undermine its validity. And Allah Knows Best.