The Profits of Investment Banks
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The first question of Fatwa No. ( 6605 )
Q1: We have many banks in Egypt , including investment banks and non-investment banks. As for the non-investment banks, they are forbidden without doubt. As for the investment banks , I want to know whether their profits are lawful or forbidden? Knowing that the investment bank always engages in profitable projects, such as building apartments and renting them to people, and other similar projects.
A1: If these banks invest their funds in riba-based transactions, commercial insurance, or the like, then it is forbidden for a Muslim to invest his money in them, and any profit or interest realized from that is forbidden. Otherwise, it is permissible to invest in them, and any profit resulting from that is lawful.
Q1: We have many banks in Egypt , including investment banks and non-investment banks. As for the non-investment banks, they are forbidden without doubt. As for the investment banks , I want to know whether their profits are lawful or forbidden? Knowing that the investment bank always engages in profitable projects, such as building apartments and renting them to people, and other similar projects.
A1: If these banks invest their funds in riba-based transactions, commercial insurance, or the like, then it is forbidden for a Muslim to invest his money in them, and any profit or interest realized from that is forbidden. Otherwise, it is permissible to invest in them, and any profit resulting from that is lawful.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.