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Resolutions of Iftaa' Board

Resolution No.(163): "Ruling on the Sukuk of Ijarah Ending in Ownership Issued by Al-Rajihi Cement Company"

Date Added : 01-12-2015

Resolution No.(163)(1/2011) by the Board of Iftaa`, Research and Islamic Studies:

"Ruling on the Sukuk of Ijarah Ending in Ownership Issued by Al-Rajihi Cement Company"

Date: 25/3/1432 AH, corresponding to 28/2/2011

 

All perfect praise be to Allah, The Lord of The Worlds; and may his blessings and peace be upon our Prophet Mohammad and upon all his family and companions.

On the above date, the Board reviewed the question of Al-Rajihi Cement Company-Jordan regarding the Sukuk of Ijarah ending in ownership.

After researching and deliberating, the Board decided what follows:

Taskeek is issuing documents, or financial certificates of equal value as indefinite shares in existing assets (properties, benefits, rights, or a mixture of properties, benefits, money, and debts), or will be established by virtue of initial public offering, and are issued in accordance with a Sharia-compliant contract.

Having reviewed the mechanism of issuing those Sukuk, the Board decided that they are permissible in Sharia, provided that the assets of the Ijarah are sold to the tenant for a reasonable price at the end of the leasing (Ijarah) period. Moreover, there must be no capital assurance by either party, and the Sharia rules sanctioned by the Sharia Supervisory Committee must be adhered to. And Allah Knows Best.

 

Chairman of the Iftaa` Board, The Grand Mufti of Jordan, Sheikh Abdulkareem Al-Khasawneh

Vice-Chairman of the Iftaa` Board, Dr. Ahmad Hilayel

Dr. Yahia Al-Botoosh/ Member

Sheikh Sa`eid Hijjawi/ Member

Dr. Mohammad Khair Al-Eesa/ Member

Judge Sari Attieh/ Member

Dr. Abdulrahman Ibdah/ Member

Dr. Mohammad Al-Ibraheem/ Member

Dr. Abdulnaser Abu Al-Basal/ Member

Dr. Mohmmad Al-Khalayleh/ Member

Dr. Mohammad Al-Gharaibeh

Sheikh Mohammad Al-Hinaiti/ Executive Secretary of the Iftaa` Board

 

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Summarized Fatawaa

How does a praying person prostrate?

All perfect praise be to Allah,The Lord of The Worlds                                                                                                                                                                        It is from Sunnah that he/she sits with both knees on the ground in order to prostrate, then hands, nose and forehead are placed on the same place. In addition, the toes have to touch the ground, and be directed towards the Qiblah (direction of Ka`bah) during prostration. And Allah Knows Best.

Is it permissible for a woman in her menstrual period to recite from the Mus-haf (copy of the Quran ), or to recite by heart?

A menstruating woman is permitted neither to recite nor to touch the Quran according to what Ali Bin Abi Talib (May Allah be pleased with him) reported about the Prophet (PBUH) who was only held from reciting the Holy Quran by Janabah (Major impurity) [Al-Tirmizi in a sound Hadith]. Although Janabah and menstruation are major impurities, a menstruating woman is permitted to supplicate Allah (Duaa`) and make Zikr (Tasbihat ), even if these involved saying words from the Holy Quran, provided that she does not mean the words for themselves but as a supplication, or Zikr. Moreover, she is rewarded for not reciting the Quran during her menstrual period because she abided by the injunctions of Allah.

What type of illness that permits breaking the fast in Ramadan?

It is an illness that, if one fasts, there is a fear it may lead to their death or cause unbearable hardship.

When does the time for Udhiyah begin?

Praise be to Allah, and peace and blessings be upon our master, the Messenger of Allah.
 
The time for Udhiyah (sacrificial offering) begins once the sun has risen on the day of Eid al-Adha—which is the tenth of Dhul-Hijjah—and a period of time has passed equivalent to two brief prayer units (Raka'at) and two brief sermons (Khutbah). It then continues until the sunset of the last of the days of Tashreeq, which are the eleventh, twelfth, and thirteenth of Dhul-Hijjah.
 
The Prophet (peace be upon him) said: "All the mountain passes of Mina are places of sacrifice, and in all the days of Tashreeq there is slaughtering." [Narrated by Al-Bayhaqi and Ibn Hibban].
 
The best time to slaughter is after finishing the Eid prayer, due to the saying of the Prophet (peace be upon him):
 
"Indeed, the first thing we begin with on this day of ours is to pray, then we return and slaughter. Whoever does that has attained our Sunnah, and whoever slaughters before [the prayer], it is only meat he has presented to his family; it is not part of the ritual sacrifice (Nusuk) in any way." [ٌReported by Bukhari & Muslim].
 
It is valid to sacrifice at any time, whether by night or by day; however, it is disliked (Makruh) at night. And Allah the Almighty knows best.

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