Can I take finance through FNB Islamic banking?

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

In order to determine Shariah compliancy in dealings, the following is necessary:

1) The concept must be according to Shariah.

2) The contract must express the Shariah concept correctly. If the terms and conditions of the transaction in the contract are incorrect, then the contract will not be Shariah compliant.

3) Correct implementation of the transaction. If the concept and contract are both Shariah compliant, it is equally important that the procedure of the transaction be correctly implemented. If there is a flaw in the procedure, the transaction will not be Shariah compliant despite the concept and contract being Shariah compliant.

A general ruling cannot be given with regards to Islamic finance. Rulings can only be made after studying the relevant contracts and procedures in detail.

Accordingly, the Darul Iftaa cannot comment on FNB Islamic Finance.

With regards to eBucks, it is permissible to use. A detailed answer can be found here: http://askimam.org/public/question_detail/29009

And Allah Ta’ala Knows best

Zaakir Ismail

Student Darul Iftaa
South Africa

Checked and Approved by,
Mufti Ebrahim Desai.