Resolutions of Iftaa' Board



Resolutions of Iftaa' Board

Resolution No.(9): “Ruling on the Amendments over the Moqarada Bonds Act“

Date Added : 25-01-2018

 

Resolution No.(9) by the Board of Iftaa`, Research and Islamic Studies:  

“Ruling on the Amendments over the Moqarada Bonds Act“

Date: 29/5/1407 AH, 29/1/1987 AD.

 

Question: What is the ruling on the amendments over the Moqarada (A borrowing tool in favor of a company bonds act?
Answer: All perfect praise is due to Allah, The Lord of the Worlds.
After reviewing the articles of the interim, act no. (10), 1981, the proposed amendments and deliberating over them, the Board has decided the following:
A- Confirming the resolution of the Iftaa` Committee issued on the 8th of Feb. 1398 AH, 17/1/1978 on Moqarada draft-act and that its texts and sections comply with the rulings of Islamic Sharia.
B- Confirming the resolution of the Iftaa` Committee issued on the 8th of Feb. 1398 AH, 17/1/1978 on the permissibility of the government`s guarantee over settling the par value of Moqarada bonds within the specified dates since the government is considered a Third Party, and enjoys the general authorities in doing what is in the best interest of its citizens.
C- The Board noticed that the 12th article of the interim act No.(10),1981  has added-after stating that the government guarantees settling the whole due par value of the Moqarada bonds within the specified dates-that the amounts paid by the government  in this case are considered a zero-interest loan to the project, and becomes due once the bonds are totally settled. In other words, the government isn`t a Third Party anymore because the project itself has settled all the payments. In fact, the project borrowed from the government because it didn`t have the amount needed for settling the par value of the bonds. This is a kind of guarantee against loss given by the owner of the money from the Mudarib (co-partner) in a Mudaraba (co-partnership) contract, and this contradicts the rulings of a Mudaraba contract stipulated in Islamic Jurisprudence.
Therefore, the board believes that it is essential for the government to continue its guarantee role as a Third Party. This in order to avoid stipulating that subscribers shall endure any loss-as stated by the Iftaa` Committee in the aforementioned resolution-and consequently this transaction becomes acceptable in Sharia.
Therefore, the Board views that it is essential that article (12) ends with the words: “specified dates”, and that what comes after them is omitted. Actually, Waqf(religious endowment) projects, projects undertaken by municipalities and  financially as well as managerially independent organizations  from which this guarantee  shall benefit are amongst the vital projects that target the best interest of the citizens. The government is keen on holding such projects and promoting them in order to achieve eco-social development so long as there are sufficient guarantees, which secure their proper progress and supervision.
The government`s guarantee over settling these bonds within the specified dates entails no harm, or squander of public funds, rather, it is using them positively in rare cases and exceptional situations.
D- The Board has reviewed the proposed amendments included in the note attached with the official letter of the Minister in question and believes that they don`t contradict the rulings of Sharia in this regard and that it (Board) doesn`t object including them in the interim act. And Allah Knows Best.

 

 

Decision Number [ Previous | Next ]


Summarized Fatawaa

What is the ruling on fasting for those with diabetes, heart disease, high blood pressure, kidney disease, or ulcers?

● A sick person who is completely unable to fast is exempted from fasting and must offer fidyah (feeding a needy person), as Allah Almighty says {what means}: "and [in such cases] it is incumbent upon those who can afford it to make sacrifice by feeding a needy person." [Al-Baqarah/184]. They are not required to make up for the missed fasts.
● A sick person who can fast on some days but not others should fast when able and make up the missed days after Ramadan when possible. No fidyah is required in this case.
● If fasting during the long, hot summer days is too difficult for a sick person, but they can make up the fasts during the shorter, cooler winter days, they should break their fast and make up for it when they are able, without fidyah.

What is the ruling on making up missed prayers during prohibited times?

 

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
It is permissible to make up (qada’) missed prayers at any time, even during the periods when prayer is generally prohibited. The prayers that are forbidden and considered invalid during these times are 'absolute voluntary prayers' (nafl mutlaq)—which have no specific cause—and voluntary prayers whose cause follows the prayer itself, such as the Sunnah of entering Ihram or the Sunnah of the Istikharah prayer. Furthermore, no prayer is considered disliked (makruh) during these prohibited times when performed within the Meccan Sanctuary (Makkah al-Mukarramah).
 
It is stated in Bushra al-Karim (Vol.1/P.181), one of the Shafi’i texts: 'It is not forbidden to perform prayers that have a cause that is not delayed (i.e., the cause is preceding), such as making up a missed prayer (fa’itah)—even if it was a voluntary one—and the funeral prayer (janazah); or a cause that is simultaneous, such as the prayer for rain (istisqa’) or the eclipse prayer (kusuf)... and the Sunnah of wudu, the greeting of the mosque (tahiyyat al-masjid), the Sunnah of circumambulation (tawaf), the Sunnah of arrival, and the prostrations of recitation (tilawah) or thankfulness (shukr). These mentioned prayers and their like are not forbidden provided that one does not specifically intend (ta'ammud) to perform them during the disliked time because it is a disliked time. If one does so intentionally, it becomes forbidden, even if it is a mandatory makeup prayer that is due immediately; because in that case, one is acting in defiance of the Sharia. This is in contrast to when one does not specifically seek out that time, even if the prayer happens to fall within it, or if one seeks it for another purpose—such as delaying a funeral prayer to that time so that a larger number of people may pray over the deceased; in such cases, it is permissible and valid... And it is forbidden to perform prayers with no cause at all, like absolute nafl, or those with a delayed cause, such as the Istikharah prayer, the prayer for Ihram, the prayer for a need (hajah), the prayer before leaving the house, or the prayer before execution; because their causes occur after the prayer itself.' And Allah the Exalted knows best."

Is it permissible for a woman in her menstrual period to recite from the Mus-haf (copy of the Quran ), or to recite by heart?

A menstruating woman is permitted neither to recite nor to touch the Quran according to what Ali Bin Abi Talib (May Allah be pleased with him) reported about the Prophet (PBUH) who was only held from reciting the Holy Quran by Janabah (Major impurity) [Al-Tirmizi in a sound Hadith]. Although Janabah and menstruation are major impurities, a menstruating woman is permitted to supplicate Allah (Duaa`) and make Zikr (Tasbihat ), even if these involved saying words from the Holy Quran, provided that she does not mean the words for themselves but as a supplication, or Zikr. Moreover, she is rewarded for not reciting the Quran during her menstrual period because she abided by the injunctions of Allah.

What is the ruling on eating or drinking during the second Adhan?

It is not permissible to eat or drink during the second Adhan because it announces the break of dawn and the obligation to start fasting. Allah Almighty says {what means}:"and eat and drink until you can discern the white streak of dawn against the blackness of night." [Al-Baqarah/187].
Whoever eats or drinks during this time invalidates their fast, and they must refrain from eating for the rest of the day and make up for the missed fast later.