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Resolutions of Iftaa' Board

Resolution No.(34): “Ruling on the Investments of the Social Security Fund for Education through Depositing Funds in Usurious Banks or Purchasing Stocks“

Date Added : 28-10-2015

 
Resolution No.(34): "Ruling on the Investments of the Social Security Fund for Education through Depositing Funds in Usurious Banks or Purchasing Stocks"

Date: 28/11/1413 AH corresponding to 20/5/1993 AD.

The Board has received the following question:

What is the ruling of Sharia on the investments of the Social Security Fund for education, where funds are deposited in the Housing Bank against an interest, stocks are purchased from Jordan-Gulf Bank and General Arabia Insurance Company, development bonds are purchased from Jordan`s Central Bank, debenture bonds of Water Authority are purchased from Jordan`s Central Bank, and stocks are purchased in the Arab International Hotels Company?

Answer: All success is due to Allah.

The Board is of the view that purchasing stocks in a usurious institution is forbidden because it involves employing the invested money in forbidden activities, and this applies to purchasing funds in Jordan-Gulf Bank, development bonds issued by the Central Bank, and debenture bonds of the Water Authority from the Central Bank.

As regards depositing funds in a usurious bank against an interest, such an activity is forbidden as well, and this applies to depositing funds in the Housing Bank against an interest.

However, the permissibility of purchasing shares in companies in general depends on the nature of the activity of such companies, so if the activity is lawful, then purchasing the shares is lawful; if not ,then it isn`t. And Allah Knows Best.

 

Chairman of the Iftaa` Board, Chief Justice Dr.Nooh Al-Qodaat

Acting Mufti General, Sheikh Saeid Hijjawi

Mufti General of Jordanian Armed Forces: Mhamood Shwayat

             Dr. Abdassalam Al-Abbadi

Dr. Ahmad Hilayel

   Dr. Yousef Ghizaan

           Dr. Mahmood Al-Sartawi

             Dr. AbdulAziz Al-Khaiyaat

            Dr. Ibrahim Khash-shaan

       Sheikh Ratib Az-zahir

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Summarized Fatawaa

Is a woman's prayer performed while following an Imam whose prayer is being broadcasted via the television valid, and does she receive the reward of congregational prayer?

Praise be to Allah, and peace and blessings be upon our Master, the Messenger of Allah.
 
Among the conditions for the validity of following an Imam (Iqtida’) is that the Imam and the follower must be in the same location. Therefore, the prayer of one who follows an Imam whose prayer is being broadcasted via television from a distant location is not valid. However, if the follower is with the Imam in the same mosque, the prayer is valid. And Allah the Exalted knows best.

What is the ruling on deliberately breaking the fast while being capable of fasting?

Whoever intentionally breaks their fast in Ramadan without a valid excuse has committed a major sin and bears great guilt. They must repent, seek forgiveness, refrain from eating and drinking for the rest of the day, and make up for that day after Ramadan.
They have lost an immense reward, which cannot be compensated even by fasting an entire lifetime as a voluntary act, because an obligatory fast cannot be equaled by voluntary fasting.
If the fast was broken through sexual intercourse, the person must:
● Make up for the missed fast (qada), and
● Perform kaffarah by fasting two consecutive months.
● If they are unable to do so, they must feed sixty needy people.

What is the ruling of Islamic Law on making up missed voluntary prayers?

All praise is due to Allah, and peace and blessings be upon our master the Messenger of Allah ﷺ.
It is recommended for a Muslim to make up any missed voluntary prayers — whether the regular Sunnah prayers (rawātib), the witr prayer, or his personal devotional routine (wird). As for voluntary prayers that are tied to a specific cause or occasion — such as the eclipse prayers (kusūf and khusūf) — these are not made up once their time has passed.
Shaykh al-Islām Imām al-Nawawī, may Allah have mercy upon him, stated: "The correct view in our school is that making up the regular voluntary prayers is recommended." [Al-Majmūʿ, Vol. 4/P.43] And Allah the Almighty knows best.

What is the ruling on sacrificing a castrated animal or one with a missing tail?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
It is permissible to sacrifice a castrated sheep; as it has been established that the Prophet (peace be upon him) sacrificed:
 
"...two large, fat, horned, white-and-black, castrated rams (Mawju'ayn—meaning having crushed testicles)." [Narrated by Ibn Majah in his Sunan].
 
It is not permissible to sacrifice an animal that is missing its tail, or udder due to being cut off. This is in contrast to an animal that was naturally born without a tail, or udder; such an animal is valid for sacrifice. And Allah the Almighty knows best.

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