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Resolutions of Iftaa' Board


Resolutions of Iftaa' Board

Resolution No.(43): "Ruling on the Amendments of the Islamic International Arab Bank`s Certificate of Incorporation and Statute"

Date Added : 07-12-2015

 

Resolution No.(43): "Ruling on the Amendments of the Islamic International Arab Bank`s Articles of Association and Statute Regualtions"

Date: 25/7/1420 AH, corresponding to 13/11/1999

We have received the following question:

Do the certificate of incorporation and the statute of the Islamic International Arab bank comply with the rulings of Islamic Sharia?

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.

Answer: The Board has decided to approve the amendments indicated in the above letter, and which comply with the rulings of Islamic Sharia, provided that paragraph (D) of article (28) is rewritten to read as follows:

Paragraph (D) The other precautions:

Any percentage of the profits based on the suggestion of the administrative board and the approval of the general authority in favor of any other precautions, regardless of their name or purpose, in the best interest of the company and its course of business, provided that this deduction is made after that of the income tax. And Allah Knows Best.

Chairman of the Iftaa` Board, Chief Justice, The Grand Mufti, Sheikh Izuldeen At-tamimi

Sheikh Sa`eid Al-Hijjawi

Dr. Yousef Ali Ghyzaan

   Dr. Mahmoud Al-Bakheet

   Dr. Abdulsalam Al-Abbadi

Sheikh Sa`eid Shewayat

                     Executive Secretary of the Iftaa` Board, Na`eim Mujahid

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Summarized Fatawaa

Which hour coincides with the last third of the night?

This hour could be figured out by calculating the number of night hours which start at sunset, and end at dawn break, then the total is divided on three to get the result.

Is it permissible for a sick person to pray while sitting on a chair?

All perfect praise be to Allah, The Lord of the Worlds                                                                                                                                                                        It is permissible for a sick person, who is unable to stand up, to offer prayer while sitting on a chair. If he/she was unable to prostrate while on the chair, the he/she should pray while sitting on the ground, but if he/she was neither able to bow (Roku),nor to prostrate, then he can do them while sitting on the chair. And Allah Knows Best.

Does excessive sleep during Ramadan invalidate fasting?

Sleeping a lot in Ramadan does not invalidate the fast, but a Muslim may miss out on great rewards from prayer, Quran recitation, and acts of worship due to excessive sleep.

What is the Islamic ruling on eating from the 'aqīqah?

All praise is due to Allah, and may peace and blessings be upon our Master, the Messenger of Allah.
It is recommended (mandūb) to eat from the 'aqīqah, unless it was vowed (mandhūrah). If the 'aqīqah was made as a vow, then it is prohibited to eat from it, and it becomes obligatory to distribute the entirety of it in charity to the poor. And Allah Almighty knows best.

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