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Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

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

Allah the Almighty has permitted marrying up to four women, but human beings prohibit that with their own land laws. What is the position of Sharia on this?

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.
What Allah has made lawful, human beings can`t make it unlawful. However, taking the decision to marry up to four women requires material and physical abilities, in addition to having the courage to make such a decision. And Allah The Almighty Knows Best.

A woman died at the age of ninety. Her living children are nine: two sons and two daughters. The youngest of her grandchildren, from her son who passed away one year before her, is aged thirty-two. Are these grandchildren entitled to the obligatory bequest although they are aged thirty-two and above?

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.
A Muslim isn`t obligated to leave a bequest to his grandchildren whose father had passed away; rather, this act is recommended. Therefore, if he left a bequest whereby they get less than one third of the estate then Allah will reward him for that. However, if he left no bequest for them then they get nothing because their paternal uncles are alive and they are closer to the deceased and more entitled to inherit him. This is the position of the four schools of Islamic jurisprudence. However, the Personal Status Law didn`t adopt this position; rather, it gave them the same amount to which their father is entitled when alive but his father or mother are dead; provided that it doesn`t exceed one third of the estate. Therefore, we advise them (Grandchildren) to relinquish this share of the inheritance. If not, then we advise their paternal uncles to overlook the amounts taken from their shares and given to their paternal nephews. And Allah the Almighty knows best. 

Is it permissible for the guardian to give Sadaqa( voluntary charity )from the money of the orphans?

It is impermissible for the guardian to donate from the money of the orphans because he is entrusted with the safekeeping of that money, and is prohibited from donating it.

Is it permissible for me to name my first son “Kassim” ?

The Prophet(PBUH) prohibited combining his name and his nickname, but using one of them is desirable.

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