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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

Is it permissible to offer the Eid sacrifice in a non-Muslim country?

Eid sacrifice is permissible anywhere, and Islamic Sharia hasn`t determined that it should be in an Islamic country, but poor Muslims should be given a share in order for it to be valid since it is an act of worship. A portion of that Eid sacrifice should be given at least to one poor Muslim, and if that wasn`t possible then the one offering it should consume it along with his family.

Is it permissible for a woman to die her hair black?

Praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
It is permissible for a woman to dye her hair with other than black at any time she likes, even during Ramadan since applying the dye doesn`t invalidate the fast. And Allah The Almighty Knows Best.

Is it lawful or unlawful to take payment of key money?

Praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
If the lease contract has expired and the lessor refrained from renewing it, then the tenant is obliged to leave the property for nothing. And Allah The Almighty Knows Best.

What is meant by "Recalcitrance of the woman toward her husband doesn`t render her divorced"?

All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
It means that her being recalcitrant (Nashiz) doesn`t make her divorced. Rather, she has to be divorced by husband or Sharia judge to be considered divorced. And Allah The Almighty Knows Best.

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