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﴿ فَاسْأَلُوا أَهْلَ الذِّكْرِ إِن كُنتُمْ لَا تَعْلَمُونَ ﴾

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Is there any doubt in dealing with banks that are established, and whose owners say that they invest the deposits in projects

Machine translationRead the Arabic original
The questioner:
In one of the Islamic countries, they established banks for Islamic transactions that follow the state, and they write on the papers
But Allah has permitted trade and has forbidden interestوَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا
[Al-Baqarah 2:275]
, and they say, "We invest the deposits in productive Islamic projects, and we credit the account every three months, and we determine the depositor's share at the end of the period, and this share varies at the end of each period, sometimes increasing and sometimes decreasing. Is there any doubt in this?"

The Shaykh:
If it is based on an Islamic mudarabah (profit-sharing partnership), and it gives the partner a known share of the profit, a quarter, a fifth, a half, or so on, these are lawful transactions, called lawful mudarabah. We hope that Islamic banks will open soon, if Allah wills, in this country,

The presenter:
or what comes before that.

The Shaykh:
The gambling with the authorities will be abandoned soon.

The presenter:
May Allah bring about good.
Source قناة «فضيلة الشيخ ابن باز Alsheikh Binbaz»، 406 هل هناك شبهة في التعامل مع البنوك التي تنشئ ويقولون أصحابها أنها تستثمر الإيداعات في مشروعات.. — youtube.com

The Arabic text is a machine transcription of the audio recording.

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