How can CashU amend its savings program—which is based on certificates of deposit and investing the collected funds in the company's electronic products with the calculation of profits and rewards—to be compliant with the provisions of Islamic Sharia?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
This investment is forbidden because the profit is a percentage of the capital, which invalidates the partnership Islamically, and makes it an interest-bearing loan if combined with a capital guarantee. To correct the contract, there should be no stipulation for a capital guarantee, and the profit should be a percentage of the actual company profits, not of the capital.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/16656
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 16656
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy