Investment in the Islamic Bank
Machine translationRead the Arabic original
Fatwa No. ( 10690 )
Q: Is it permissible to deposit money for investment in an Islamic investment bank that is not based on riba (usury or interest), does not deal in interest either by taking or giving, but rather invests its funds according to Sharia principles, and distributes the profits realized as a result of the bank investing the funds in commercial operations that involve both profit and loss among the depositors and investors at the end of the bank’s financial year, in accordance with the instructions?
A : If the situation is as described, namely that this Islamic bank
is not based on riba (usury or interest), but rather invests the funds according to Sharia principles, then it is permissible for you to deposit money with it for investment.
Q: Is it permissible to deposit money for investment in an Islamic investment bank that is not based on riba (usury or interest), does not deal in interest either by taking or giving, but rather invests its funds according to Sharia principles, and distributes the profits realized as a result of the bank investing the funds in commercial operations that involve both profit and loss among the depositors and investors at the end of the bank’s financial year, in accordance with the instructions?
A : If the situation is as described, namely that this Islamic bank
is not based on riba (usury or interest), but rather invests the funds according to Sharia principles, then it is permissible for you to deposit money with it for investment.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.