The fourth question of Fatwa no. 16874
Q4: Is raising the hands upward when supplicating to Allah after the end of Adhan (call to Prayer) an act of Bid`ah (innovation in religion)?
A: After repeating Adhan and invoking Allah’s Peace and Blessings upon Prophet Muhammad (peace be upon him), it is recommended to say:
O Allah! Lord of this perfect call and of the regular prayer which is going to be established, bestow upon Muhammad Al-Wasilah (the highest position in Paradise) and Al-Fadilah (extra degree of honor) and raise him to Al Maqam Al Mahmud (the best and the highest place in Paradise), which You have promised him.
This statement is authentically reported from the Prophet (peace be upon him) on the authority of Jabir ibn `Abdullah Al-Ansary (may Allah be pleased with him and his father) in Sahih Al-Bukhari (may Allah be merciful to him). However, raising the hands has no mention in the report, so it is an act of Bid`ah.
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
The Permanent Committee for Scholarly Research and Ifta’
Member – Member – Member – Chairman
Bakr Abu Zayd – Abdul-`Aziz Al Al-Shaykh – Salih Al-Fawzan – Abdul-`Aziz ibn `Abdullah ibn Baz
Source: Fatwas of the Permanent Committee (alifta.net) > Acts of worship > Salah (Prayer) > Conditions for the validity of Salah > Knowing that the time of a given Salah has commenced as a condition for the validity of Salah > Adhan (call to Prayer) > Saying Du`a’, Dhikr and performing Nafilah Prayer between Adhan and Iqamah >

The following has been taken from Imam Ibn Baz’s Fatwas of Nur `Ala Al-Darb
171- What is the ruling on raising one’s hands in Du`a’ after Iqamah
Q: I have noticed that some Muslims, who are about to perform Salah (Prayer), raise their hands and supplicate immediately after the Mu’adhin (caller to Prayer) finishes the announcement of the Adhan (call to Prayer). This takes place before Takbirat-ul-Ihram (saying: “Allahu Akbar [Allah is the Greatest]” upon starting Prayer. Is this practice reported from the Prophet (peace be upon him)?
A: This action has no basis in Shari`ah (Islamic law). Nothing has been reported that the Prophet (peace be upon him) used to supplicate between Iqamah (call to start the Prayer) and the start of Prayer. He was never reported as having raised his hands at this time. This should not be done because it is contrary to the Sunnah (whatever is reported from the Prophet).
Fatwas of Nur `Ala Al-Darb > Volume 6 > Book of Salah > Chapter on Adhan and Iqamah
http://www.alifta.net/Fatawa/fatawaDetails.aspx?languagename=en&View=Page&PageID=1228&PageNo=1&BookID=8