Fatwa Explorer
Sign in

Fatwa #169936 August 2008Pakistan

I want to know about bank savings/investment, whether this profit is HALAL as Meezan bank claim.links are

Answered by Ml. Asif UmarChecked by Mufti Ebrahim Desai

Question

Asalam O Aliakum

I want to know about bank savings/investment, whether this profit is HALAL as Meezan bank claim.links are

http://www.meezanbank.com/pages.aspx?iPageId=91

http://www.meezanbank.com/pages.aspx?iPageID=50

Please confirm, is it Islamic way of investment or suggest any other way to invest money for halal profit.

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatuh

We cannot issue a ruling on the Shari'ah compliancy of savings/investment with Meezan Bank until studying the full details of their contracts and procedures. Unfortunately, their web site does not provide such details.

And Allah knows best

Wassalam

Ml. Asif Umar,
Student Darul Iftaa

Checked and Approved by:

Mufti Ebrahim Desai
Darul Iftaa

Something wrong with this record?

Report a problem

This goes to whoever maintains the archive, not to Askimam.org. For a question about the ruling itself, use the link to the original above.

Sent anonymously. No account needed, and nothing identifies you.