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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

Which is more excellent for a woman: to pray in the mosque or in her house?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Our Master the Prophet ﷺ said: 'It is more excellent for a woman to pray in her house than in her courtyard, and more excellent for her to pray in her private chamber than in her house.' Therefore, a woman’s adherence to her home and her refraining from going to the mosques—in obedience to the command of Allah the Exalted—attains a great reward and abundant recompense. Furthermore, women praying in congregation within their homes is better than their attendance at the mosques, based on the aforementioned Hadith. And Allah the Exalted knows best.

Is ablution invalidated when blood comes out of the nose, or a wound?

Blood coming out of the nose, or a wound does not invalidate ablution, but it is preferable to make ablution as a way out of the scholars disagreement in this regard.

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.

 

What is the ruling on giving Zakah (obligatory charity) to one`s relatives?

It is impermissible to pay Zakah to one`s origins (parents and grandparents) because providing for them is an obligation on their branches (sons and daughters) if they were poor, but it is permissible to give some of the Zakah money to relatives whose provision isn`t due on the giver of the Zakah.

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