What is your opinion regarding Islamic banks today and their profits?
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The questioner : In the name of Allah, the Most Gracious, the Most Merciful.
As a continuation of the previous question or topic, no harm, Shaykh, it is just a simple question: What is your opinion of Islamic banks now?
The Shaykh : The same question?
The questioner : Yes, a continuation. The question is on the same topic of banks. Now, Islamic banks exist, and it is said that there is a body of jurists monitoring their financial operations. What is your opinion?
And do the profits distributed by these banks fall under interest or concealed riba?
The Shaykh : This is a general question, and it is not appropriate to answer it. Rather, it should be a question with specific details so that we can express our opinion on it. As for transactions, there are many, and most of them appear to be riba-based transactions. But is there a transaction that does not contain riba?
Therefore, if it is possible to clarify the question, please do so; otherwise, there is no answer.
The questioner : It is difficult, Shaykh.
As a continuation of the previous question or topic, no harm, Shaykh, it is just a simple question: What is your opinion of Islamic banks now?
The Shaykh : The same question?
The questioner : Yes, a continuation. The question is on the same topic of banks. Now, Islamic banks exist, and it is said that there is a body of jurists monitoring their financial operations. What is your opinion?
And do the profits distributed by these banks fall under interest or concealed riba?
The Shaykh : This is a general question, and it is not appropriate to answer it. Rather, it should be a question with specific details so that we can express our opinion on it. As for transactions, there are many, and most of them appear to be riba-based transactions. But is there a transaction that does not contain riba?
Therefore, if it is possible to clarify the question, please do so; otherwise, there is no answer.
The questioner : It is difficult, Shaykh.