Fatwa #4694810 January 2021Germany

KT Bank Germany

Checked by Mufti Ebrahim Desai

Question

I would like to know if kt Bank ,based in Germany which has something
called a participation account is halal safe.
With thanks.

Answer

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

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

Respected brother,

We are unaware of the Shariah status of KT bank and therefore cannot comment on the participation account without analysing their contracts. The information on their website is not sufficient for us to issue a ruling.

You may forward us the relevant contracts at admin@daruliftaa.net Ref: Muhammad Fayyaadh and we will advise accordingly.

And Allah Ta'āla Knows Best

Muhammad Fayyaadh

Student - Darul Iftaa

South Africa

Checked and Approved by,

Mufti Ebrahim Desai

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