Is investing in the Islamic Gulf Investment Company, located in the Eastern Province of Saudi Arabia, permissible in Islamic law, or what are the permissible Islamic banks in Saudi Arabia or the Arabian Gulf?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
We do not have knowledge of the investment avenues in the aforementioned company. The Islamic banks in the Kingdom are Al-Rajhi Bank, Bank Al-Bilad, and Alinma Bank. The general rule concerning companies and banks committed to Islamic banking is that it is permissible to invest in their programs, unless it becomes clear that there is an error in a specific program, in which case investment in it must be avoided.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/17497
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 17497
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy