Is it permissible for me to buy platinum from Abu Dhabi Islamic Bank and for them to sell it to me while the bank retains possession of the material, in exchange for me only receiving money and paying back more than the amount borrowed?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
This described transaction falls under organized tawarruq (monetization), which the Islamic Fiqh Academy has ruled to be impermissible.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/175574
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 175574
- 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