Can I open a saving account in an Islamic Bank?
Question
I have a following question, I need you to please reply it in the light of Quran and Sunnah... Q: "Is it halaal to open a saving account(and get profit) in an Islamic bank....that is claiming to run its investments under the advise of a Shariah board? " The bank claims it as shariah complaint banking... (As per the ruling of Mufti Taqi usmani sahb). I want to earn a right profit for my family but not at the cost of Rage and Wrath of Allah SWT. Please help me. Your kind reply is awaited... Wa-assalam
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
Assalāmu ῾alaykum wa Rahmatullāhi Wabarakātu
If the bank in reference uses the reference of Mufti Taqi Uthmani Sahab to be Shariah Compliant, you should seek clarity on that from Mufti Taqi Uthmani Sahab directly. Enquire from him whether he has approved of the Shariah Compliancy of the bank?
And Allāh Ta῾āla Knows Best
Wassalāmu ῾alaykum
Jibran Kadarkhan
Student, Dārul Iftāa
Mauritius
Checked and Approved by:
Mufti Ebrahim Desai
- Answered by
- Jibran Kadarkhan
- Checked & approved by
- Mufti Ebrahim Desai
Where scholars differ, it’s safer to take the more cautious view.
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/34350
Fatawa SA: https://fatawa.co.za/fatwa/askimam-34350
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