Haram
Alcoholic intoxicants are prohibited in Islam. Khamr is the Arabic word for alcoholic drinks that cause intoxication. The Prophet declared that the prohibition was not only placed on wine, but the prohibition also included beer and other alcoholic beverages that intoxicate a person. The Prophet also forbade the trading of these intoxicants, even with non-Muslims. It is not permissible for a Muslim to import or export alcoholic beverages, or to work in or own a place that sells these intoxicants. Giving intoxicants as a gift is also considered haram.
Fatwa
In September 1951, the mufti of Egypt issued a fatwa stating that both Coca-Cola and Pepsi-Cola were permissible for Muslims to drink. In order to arrive at that decision, the Department of Fatwas had the Ministry of Public Health analyze the composition of the two drinks. As they did not find the pepsin or any narcotic or alcoholic substances to be present, nor any "microbes harmful to health", the mufti found that it was not forbidden under Islamic law. Occasionally the debate regarding whether or not Coca-Cola or Pepsi is drinkable by Muslims does continue to appear, notably recently in 2012 when a French study was released declaring that Coca-Cola contained a small amount of alcohol. Muslims are not permitted to drink alcohol, however the amount of alcohol found in the beverage was discovered so small as to be permissible according to the fatwa system.