What is the ruling on investing money in a "Murabaha deposit" with "Meem Bank," and is this bank Sharia-compliant and trustworthy?

It is permissible for a client to sell their owned commodity to a bank or other entity on a Murabaha basis. The "Murabaha deposit" followed by the bank is based on the client depositing a sum of money with it, then authorizing the bank to purchase a commodity for the client and sell it to the bank on a Murabaha basis by installments. This transaction is called reverse Murabaha, reverse Tawarruq, or inverted Tawarruq. The opinions of contemporary jurists on this matter differ into two views:

1. Prohibition: This is the view of many contemporary scholars, and a resolution was issued to this effect by the Islamic Fiqh Council of the Muslim World League and the International Islamic Fiqh Academy; because it is similar to the forbidden 'Inah transaction, and falls under the concept of organized Tawarruq.

2. Permissibility: This is the view of some contemporary scholars, and it has been adopted by the Sharia (definition) Board of Al Rajhi Bank with strict conditions, including that the commodity must not originally be owned by the bank, that the commodity must be specified, and that the client sells it to the bank themselves.

The preponderant view is the prohibition of this transaction unless the commodity is local, genuinely owned by the client, and then sold by them personally to the bank.