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Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

Resolution No.(176): "Ruling on Murabaha Sale where the Purchaser is Authorized to Conclude the Contract, or to Collect the Commodity in Question"

Date Added : 29-10-2015

 

Resolution No.(176)(8/2012) by the Board of Iftaa`, Research and Islamic Studies:

"Ruling on Murabaha Sale where the Purchaser is Authorized to Conclude the Contract, or to Collect the Commodity in Question"

Date: (8/8/1433 A.H) (28/6/2012 A.D).

 

All praise is due to Allah, peace and blessings be upon Prophet Mohammad and upon his family and companions.

The Board of Iftaa`, Research and Islamic Studies reviewed, in its fourth session held on Monday (8/8/1433 A.H)-(28/6/2012 A.D), the following question:

What is the ruling on a financial institution, which deals in Murabaha, authorizing the purchaser to purchase the commodity and possess it?

After careful study and deliberation, the Board decided what follows:

Islamic banks are in the vanguard of financial procession due to their success at times of crises and economic challenges. They have proven that the Islamic Economy is the soundest and most productive means of development and stability, and that its foundations secure the equilibrium between the benefit of the individual and the interest of the community.

In its bid to set this procession straight, and cleanse it from doubtful matters (lawful or unlawful) and trickery, the Board has decided to ban authorizing the purchaser, or his deputy from purchasing in-kind commodities and collecting them on behalf of the institution dealing in Murabaha in order to prohibit usurious borrowing  and employing trickery to legalize it. This is also because the outcome of deputizing is a factor in resembling the usurious loans, thus the transaction takes the form of cash for cash, but with an extra amount added to the original one (Usury/interest). This particularly happens when the deputizing process becomes a regular pattern adopted by Islamic Murabaha Institutions, thus we fear that these would lose  the essence of true trading which differentiates them from the usurious  banks.

The Board advises the various Islamic financial institutions to direct their employees to purchase commodities and collect them on behalf of these institutions, and to abide by the Murabaha system ratified by the Fiqh Assemblies and Islamic bodies, so as to purify the transaction from flaws and doubtful matters as well as maintain the accomplishments of Islamic banking that have been achieved recently. And Allah Knows Best.

 

Chairman of the General Iftaa` Board, His grace the Mufti General of the Hashemite Kingdom of Jordan, Sheikh Abdulkareem Al-Khasawneh

Sheikh Sa`ied Hijjawi/ Member

Prof. Abdulsalam Al-Abbadi/ Member

Prof. Mohammad Al-Khwdah/Member

Prof. Abdul N`nassir Abu-Al-bas`sal/Member

Dr.Yahia Al-Boutoosh/Member

Dr. Wasif Al-Bakhri/ Member

Dr. Mohammad Al-Khalayleh/ Member

Dr. Mohammad Az`zoubi/ Member

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Summarized Fatawaa

What is considered a woman`s Awrah (parts of the body that must be concealed during prayer) while offering prayer, and is her foot part of it?

A woman`s whole body is considered an Awrah while offering prayer except the hands and the face. Thus, her foot is an Awrah as well. And Allah Knows Best.

How should a woman make up prayers that she missed two days from delivery?

All perfect praise be to Allah,The Lord of The Worlds                                                                                                                                                                        It is prohibited to delay prayer beyond its prescribed fixed time, therefore, the woman in question is obliged to make up missed prayers after delivery and confinement i.e. once she becomes ritually pure. And Allah Knows Best.

Is Zakah (obligatory charity) due on land intended for selling?

Yes, lands intended for trade are valued, and Zakah is paid according to their estimated value after a lunar year had lapsed, but if the owner didn`t pay the due Zakah, then he should do so after selling them.

Is committing Zina (Adultery and extramarital sex) without the intention of getting pregnant or deflowered considered full Zina?

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.
 
The Messenger of Allah (PBUH) says: "The eyes commit fornication, the hands, the feet, and the private parts." [Musnad Ahmad, P.3912]. Sheikh Shu`aib `Arn`oot graded this Hadith as sound. What you are asking about is far graver. Generally speaking,  sincere repentance erases sins, good deeds erase bad deeds, and fearing Allah stops one from committing this heinous act. In addition, the devil is man`s worst enemy and whoever surrenders themselves to the wolf will be eaten. And Allah The Almighty Knows Best.

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