Mufti Online — Madrasah Ta'leemuddeen

Referring to qualified Ulamaa for each transaction

· 21 Rajab 1436 AH1 min readEnglish

Question

What are the rules and guidelines that have to be followed for a bank to be Shari’ah compliant? When dealing with the bank, how do we judge whether the dealing is permissible or not?

Answer

There are many kitaabs prepared on the subject of Islamic banking, but since it is not possible for the layman to fully comprehend the concepts, principles and influencing factors in regard to the various modes of finance in Islamic banking, we advise that for every transaction one intends embarking on, he refers to a qualified Aalim who is knowledgeable in this field to ensure that his dealings are Shari’ah compliant.

And Allah Ta'ala (الله تعالى) knows best.

References (Arabic / Urdu sources)

فَسۡـَٔلُوۡا اَهْلَ الذِّکۡرِ اِنۡ کُنۡتُمۡ لَا تَعۡلَمُوۡنَ (الأنبياء: 7)

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
View original Compare with other Darul Iftas
Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, please ask a Mufti. Report an issue

For corrections or mistakes, please email us at fatawasa786@gmail.com.

Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/10687
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-10687

Related fatawa