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Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

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

What is the ruling of Sharia on marrying a Jewish woman, dealing with the Jews, and going to Israel?

All perfect praise be to Allah the Lord of the Worlds. May Allah`s peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
It is allowed for a Muslim to marry a Jewish or a Christian woman provided that this doesn`t affect his religion. As for dealing with the Jews who are outside Palestine, it is the same as dealing with the Christians; it is permissible as long as it doesn`t harm Islam. As for dealing with the Jews who are inside Palestine, the ruling differs depending on the persons themselves and the situations. By the end of the day, a believer`s heart leads him/her to what is good. And Allah The Almighty Knows Best.

What is the amount of the Fitr Zakah(obligatory charity) of Ramadhaan?

The Fitr Zakah of Ramadhaan is a Sa`(2500 grams) from what the people of that country or state eat the most.

What should one who made an intention, at night, to make up for a missed fasting day, but broke his fast on the next day?

One who started making up a missed fasting day, then broke his/her fast without a legitimate reason is considered sinful, and is only obliged to make up for the missed fasting days.

What should a sick person, who is incapable of fasting, and who didn`t make up for missed fasting days, do?

One who has missed fasting days is obliged to make up for them, but if he/she wasn`t able to because of an incurable disease , or old age, then he/she has to pay a ransom which is feeding a needy person for each of the missed fasting days.

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