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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

If a woman makes a vow to slaughter a sheep, and her husband is the one who buys it for her from his own money, and he says: "It is for you until you fulfill your vow with it," Is this permissible, or must she buy it herself from her own money?

If her husband gave her the sheep as a donation for the puprose of fulfilling the oath she made and was slaughtered by the wife or the husband on her behalf then the vow she made is fulfilled. And Allah Knows Best. 

What is the ruling on combining prayers at the Musala (Place for prayer) of a shopping center because of heavy rain, knowing that some people come from outside that center?

Praise be to Allah, the Lord of the Worlds.

If there is hardship in going back to that Musala at the time of Asr or Isha` prayers, then it is permissible to combine prayers in twos only (Duhr with Asr and Maghrib with Isha`). Kindly consider calling us. And Allah Knows Best.

In life insurance with the Potash Company, enrollment is mandatory, and employees have the right to receive a cash amount from the insurance for surgeries and illnesses while employed by the company. Is the amount given by the insurance in this case permissible (Halal) or prohibited (Haram)?
 

Since the insurance is compulsory, then what the insurance company pays in return for medical treatment is similar to donation, and I pray to Allah The Almighty that this is lawful even if this service is deducted from your salary in return of it, so in this manner you take back some of the amount you paid in form of above treatment. And Allah Knows Best.

I used artificial nails on my wedding night, but I was surprised to find out that they require at least a week to remove. However, I performed all my prayers during that period. What is the ruling on those prayers?
 

If these nails prevent water from reaching one's skin then your prayer are invalid and obliged to redo all of them. And Allah Knows Best.

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