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Resolutions of Iftaa' Board

Resolution No.(62): "Making Repentance after having Purchased Stocks of a non-Islamic Bank"

Date Added : 25-02-2020

 

Resolution No.(62): "Making Repentance after having Purchased Stocks of a non-Islamic Bank"

Date: 5/3/1424 AH, corresponding to 7/3/2003

 

All perfect praise be to Allah, The Lord of The Worlds; and may His blessings and peace be upon our Prophet Mohammad and upon all his family and companions.

We have received the following question:

In 1977, I bought two hundred stocks of a non-Islamic bank and I want to atone this sin. What is the view of Sharia regarding these stocks? Should I keep them or give them to charity, but keep my principal sum? Am I allowed to give their value to one of my sons whom I`m not obliged to support, to pay for his tuition, marriage and the like. How should I calculate the difference in the value of the currency between that time and now?

The Board is of the view that she should sell all the stocks that she herself had purchased from the bank and from her husband, and then she should take only her principal sum as prescribed in the following verse: "Yet if you repent, you shall have your principal sums, not being unjust, and no injustice being done to you." {Al-Baqarah/279}. Moreover, She should distribute the remaining sum amongst the poor and needy, and she isn`t allowed to take any of it for herself unless she was poor. In this case, she may take what covers her need as a poor person. Moreover, she is allowed to spend on one of her sons whom she isn`t obliged to support as much as needed to cover the expenses of his study or marriage if he was poor.

As far as the calculation of the difference in the values of a currency between the times of purchasing the stocks and now, both values should be estimated and the total should be divided by two. And Allah Knows Best.

Chairman of the Iftaa` Board, Chief Justice, Izz Aldeen Attamimi
Dr. Wasif Al-Bakhri
Dr. Mohammad Abu Yahia
Dr. Yousef Ghizaan
Sheikhb Sa`id Hijjawi
Sheikh Na`iem Mujahid
Sheikh Mahmood Shwayat

 

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Summarized Fatawaa

Is it permissible for household members to pool money for the Udhiyah and gift it to one of them?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is permissible for members of a household to pool their money together and gift the total amount to one individual among them so that he may offer the sacrifice (Udhiyah). In this case, the family members receive the reward for giving charity (Sadaqah), and the one performing the sacrifice includes them in the spiritual reward (Thawab).
 
Furthermore, slaughtering a single sheep (on one's own) is considered religously better than participating as one of seven people in the sacrifice of a cow or a camel. And Allah the Almighty knows best.

What is the ruling on deliberately breaking the fast while being capable of fasting?

Whoever intentionally breaks their fast in Ramadan without a valid excuse has committed a major sin and bears great guilt. They must repent, seek forgiveness, refrain from eating and drinking for the rest of the day, and make up for that day after Ramadan.
They have lost an immense reward, which cannot be compensated even by fasting an entire lifetime as a voluntary act, because an obligatory fast cannot be equaled by voluntary fasting.
If the fast was broken through sexual intercourse, the person must:
● Make up for the missed fast (qada), and
● Perform kaffarah by fasting two consecutive months.
● If they are unable to do so, they must feed sixty needy people.

Zakah due on a woman`s jewelry?

Obligatory Zakah (obligatory charity) isn`t due on a woman`s jewelry used for adornment, provided that the value of each piece is within the range amongst common market price. And Allah Knows Best.

What are the key differences between the 'aqīqah and the uḍḥiyyah?

 All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
The following are the key differences between the 'aqīqah and the uḍḥiyyah:
First: The 'aqīqah is slaughtered as an act of drawing closer to Allah the Almighty and expressing gratitude for the blessing of a newborn child. The uḍḥiyyah, on the other hand, is slaughtered as an act of drawing closer to Allah and expressing gratitude to Him specifically during the days of slaughter (ayyām al-naḥr).
Second: The 'aqīqah is performed on the seventh day from the birth of the newborn, whereas the uḍḥiyyah is performed on Eid al-Aḍḥā and its time extends for three days after the Eid.
Third: The 'aqīqah is performed once in a lifetime for the newborn, whereas the uḍḥiyyah is recommended every year for the one who is financially capable to offer it.
Fourth: It is Sunnah for the one intending to offer the uḍḥiyyah to refrain from cutting his hair and nails until after he has slaughtered. This is not a Sunnah for the one intending to perform the 'aqīqah.
Fifth: It is Sunnah for the 'aqīqah to be cooked and distributed to the poor in its cooked form. The uḍḥiyyah, by contrast, must be distributed as raw meat. And Allah Almighty knows best.

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