Fatwa #1877629 June 2010Pakistan

Asslam-o-Alikum, I want to investment in Islami Bank, Pakistan. Islami Bank, Pakistan offer to interest free policy. Is right / wrong. Please give a detail answer.

Checked by Mufti Ebrahim Desai

Question

Asslam-o-Alikum,

I want to investment in Islami Bank, Pakistan.

Islami Bank, Pakistan offer to interest free policy.

Is right / wrong.

Please give a detail answer.

Answer

In the name of Allāh, Most Gracious, Most Merciful

Assalāmu ῾alaykum wa Rahmatullāhi Wabarakātuh

Kindly send us the details of the Bank which you intend investing in along with the contract of investment. Alternatively, you may contact your local Ulama’ in Pakistan.

And Allāh Ta῾āla Knows Best
Wassalāmu ῾alaykum

Ml. Abdur Rahman Shareef,
Student Dārul Iftā

Checked and Approved by:

Mufti Ebrahim Desai
Dārul Iftā, Madrasah In῾āmiyyah

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