عربي
Home


Resolutions of Iftaa' Board


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

Decision Number [ Previous | Next ]


Summarized Fatawaa

What is the ruling if a postpartum woman becomes pure before forty days; are acts of worship obligatory upon her, and is she permissible for her husband?

If the postpartum woman becomes definitely pure before forty days, she must perform the ritual bath and perform acts of worship as a pure woman does. What was prohibited for her also becomes permissible, so she becomes permissible for her husband after her bath. The minimum duration for postpartum bleeding is a moment (an instant), and its usual maximum is forty days. Reaching forty days is not a condition; rather, it is sufficient for the blood to stop or to see the white discharge (qassa bayda'). And Allah the Almighty knows best.

Is it permissible for an elderly person, a pregnant woman, or someone with a chronic illness to pay fidyah before Ramadan begins?

It is not permissible for an elderly person, a pregnant woman, or someone with a chronic illness to pay fidyah before Ramadan begins.
Additionally, it is not allowed to pay fidyah for more than one day in advance, because fidyah is a substitute for fasting, and fasting is not yet obligatory at that time.
However, it is permissible to pay fidyah for a single day in advance, by analogy with paying zakat up to one year in advance.

What is the ruling on mentioning Allah`s name upon slaughtering an animal?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is Sunnah for the slaughterer to say at the time of sacrificing the Udhiyah: (Bismillah - In the name of Allah); due to the saying of the Almighty: "So eat of that [meat] upon which the name of Allah has been mentioned" [Al-An'am/118]. It is not obligatory; if one leaves it out intentionally or forgetfully, the consumption of the meat remains permissible. And Allah the Almighty knows best.

Does undergoing an endoscopy during the day in Ramadan affect the validity of fasting?

Undergoing an endoscopic procedure during the day in Ramadan—whether through the mouth, nose, front private part, or back private part—invalidates the fast.
Whoever undergoes such a procedure must refrain from eating and drinking for the rest of the day out of respect for the sacred month and make up for that day after Ramadan.

See More