What is the ruling on investing in Al-Miqdam and Al-Shuja’a portfolios from Bank Al-Riyadh, and what is the ruling on Bank Al-Riyadh’s “Binaa” personal financial planning program, knowing that it is a medium-to-long-term takaful (cooperative) savings and investment program compliant with Islamic Sharia principles, and it allows beneficiaries to utilize the “Family Protection” feature, which pays the entitlement amount to heirs in the event of death?
If the investment portfolio adheres to Sharia compliance and is approved by the bank's Sharia board, then there is no objection to participating in it.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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