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Resolutions of Iftaa' Board

Resolution No.(181): "Islamic Banks Subscribing in the Jordan Deposit Insurance Corporation"

Date Added : 02-11-2015

 

Resolution No.(181)(13/2012) by the Board of Iftaa`, Research and Islamic Studies:

"Islamic Banks Subscribing in the Jordan Deposit Insurance Corporation"

Date: 4/11/1433 AH, corresponding to 20/9/2012.

 

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.

On the above given date, the Board reviewed the question sent by the Director-General of the Jordan Deposit Insurance Corporation (JODIC), which reads as follows: What is the ruling of Islamic Sharia on deposits insurance at  Islamic banks and reviewing the amendment of the Corporation`s draft-law pertaining to that?

After researching and deliberating, the Board arrived at the following view:

Deposits at Islamic banks enjoy special characteristics compared to those at non-Islamic banks, because of the difference in the types of accounts.

Therefore, the Board approves of the draft-law which stipulates binding Islamic banks with the insurance of their credit accounts. As regards investment accounts, the annual subscription paid to the Deposit Insurance Corporation should be collected from the holders of these accounts as a deduction against risk. This binds the Corporation to create two independent portfolios at the deposit insurance fund of the Islamic banks, one for the insurance of credit accounts deposits and the other for the investment accounts deposits.

It was made clear to the Board that the amended draft-law rests on values of solidarity and cooperation, and that the amounts paid on this basis are considered donations , and that it (draft-law) aims at protecting people`s funds against risk. In case of liquidation, the capitals of this fund are deposited at the Zakat Fund of the Ministry of Awqaf and Islamic Affairs and Holy Places.

Accordingly, the Board is of the view that establishing this fund for the insurance of deposits at Islamic banks is permissible, and that the suggested amendments of the draft-law comply with the accredited standards of Islamic Sharia. And Allah Knows Best.

 

Chairman of the Iftaa` Board, The Grand Mufti of Jordan: Sheikh AbdulKareem al-Khasawneh

Vice-Chairman of the Iftaa` Board, Dr. Ahmad Hilayel

Prof. Abdulnasser Abulbasal / Member

Dr. Yahia al-Botoosh / Member

Sheikh Sae`id Hijjawi / Member

Prof. Mohammad al-Qhodat / Member

Dr. Mohammad Al-Khalayleh / Member

Dr. Mohammad Khair Al-Esa / Member

Dr. Mohammad  al-Z`obi / Member

 

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Summarized Fatawaa

What is the stance of Ahlus-Sunnah wal-Jama'ah regarding the historical figure known as 'the Sufyani,' who some say will appear at the end of times? And what is the stance of Ahlus-Sunnah wal-Jama'ah regarding the group that killed Al-Husayn ibn Ali (may Allah be pleased with them), particularly those who directly committed the killing, severed his head, and killed members of his family?

Most of the narrations about the signs of the Hour concerning the Sufyani, who is said to appear before the Mahdi, indicate that he is the leader of the army that will invade the Kaaba, and Allah will cause the earth to swallow them. We disassociate ourselves before Allah from those who killed Al-Husayn Ibn Ali (may Allah be pleased with them), supported his killing, or encouraged it, whether openly or secretly. The inner matters are left to Allah alone. And Allah The Almighty Knows Best.
 
 
 
 
 

Is it permissible for a woman to shake hands with her brother-in-law?

It is forbidden for the woman to shake hands with her brother-in-law because he isn`t a Mahram (unmarriageable) of hers.

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.

What is the Islamic ruling on adoption, and what is the legal window through which a person can be kind to an orphan girl, attend to her needs and raise her as his own?

Kindness to an orphan entails a great reward from Allah, but adoption is prohibited and invalid. Therefore, it is permissible for the aforementioned person (for example) to make his brother`s wife breastfeed that girl so that he becomes her uncle by suckling provided that he informs her that she isn`t his biological daughter.

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