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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

My father passed away before my grandfather. Am I entitled to any share of my grandfather`s inheritance?

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.
According to Islamic courts, you are entitled to what is called obligatory bequest (The distribution of estate to grandchildren who has either lost a parent before the death of the grandparents). Therefore, if your grandfather left such bequest for you, then take that share or else it is more prudent to take nothing. And Allah The Almighty Knows Best. 

Is the marriage contract considered valid if concluded at home by the marriage official (Ma`zon)?

Yes, it is valid as long as it is registered at the court.

Is the two Raka's after Friday Prayer an act of Sunna?

Performing Two prostrations after the call of Friday's Athan is an act of Sunna, since Al-Bukhari stated in his Sahih: (The chapter of praying before and after Friday's prayer). This indicates that he mentions Friday's prayer exactly as the Duhr prayer (Afternoon prayer) as regards praying before and after the call of Athan. And Allah Knows Best. 

Is it lawful or unlawful to take payment of key money?

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.
If the lease contract has expired and the lessor refrained from renewing it, then the tenant is obliged to leave the property for nothing. And Allah The Almighty Knows Best.

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