عربي
Home


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

Decision Number [ Previous | Next ]


Summarized Fatawaa

Is it obligatory to have an intention (niyyah) for every prayer?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is obligatory for the worshiper to have a specific intention (Niyyah) for every prayer, meaning they must consciously intend the act of worship they are performing. The intention is a pillar (Rukn) of the prayer, and the prayer is not valid without it. It is not a requirement to utter the intention verbally; rather, doing so is considered a recommended Sunnah. And Allah the Exalted knows best.

What is the ruling on X-ray imaging while fasting in Ramadan?

X-ray imaging itself does not break the fast. However, if a person ingests a contrast agent or medication to enhance the imaging process through an open passage to the body cavity (jauf)—such as the mouth or rectum—then their fast is invalidated.

Is it permissible for me to eat from the animal that I slaughtered for Allah to protect my family?

It is permissible to eat from the non-vowed animal sacrifice, and the person is rewarded based on the amount of meat that he had given to the poor. However, there is no evidence in Islamic Sharia indicating that slaughtering an animal protects one`s family, but it is a way for thanking Allah, The Almighty, for his grace.

What is the ruling on purchasing sacrificial animals and authorizing their slaughter via telephone?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is preferable for the one offering a sacrifice (udhiyah) to slaughter the animal himself, in adherence to the Sunnah, or to be present at the slaughter if possible.
 
It is valid to authorize a butcher to purchase a sacrificial animal on his behalf and slaughter it, regardless of whether the animal is owned by the butcher or the butcher is acting as an agent in its sale—according to the Hanbali school—provided that the butcher specifically designates and purchases the animal for the person offering the sacrifice before slaughtering it. And Allah Almighty knows best.

See More