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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

What is the ruling on staring at the Holy Ka'abah?

All perfecy praise be to Allah, The Lord of The Worlds and may His Peace and Blessings be upon our Prophet Muhammad and upon all of his family and companions.

Staring/looking at the Holy Ka'abah is an act of worship even if this took place while performing a prayer, since Al-Baihaqee stated that the Prophet (PBUH) said: " Staring at the Holy Ka'abah is an act of devotion." [Sho'aab Al-Imaan]. And Allah Knows Best.

 

Is it allowed for me to donate a flat to each of my children except one considering that the tuition fees I paid for the latter`s university study are equal to the price of the flat? In other words, he has received his share and this is why I`m donating a flat to my other children?

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.
Yes, it is permissible because you want to treat them justly. And Allah The Almighty Knows Best.

Is it permissible for a Christian man to embrace Islam in secret and is it permissible for a Muslim woman to marry him?

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.
His embracing Islam in secret is between him and Allah; however, it isn`t permissible for a Muslim woman to marry him except after he declares his Islam and it is ascertained that he is sincere about that. 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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