What is the ruling on dealing with a bank that claims to apply Sharia through a Sharia committee, while there are rumors of Sharia violations in its operations, especially since the country's central bank deals with usury, and what is the alternative for someone who wishes to invest their money according to Sharia but cannot find a trustworthy institution?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
If the bank adheres to guidelines and has a trustworthy Sharia supervisory board, then there is no objection to depositing money with it for investment in permissible areas. The sin of any shortcoming that occurs falls upon the bank, not upon the depositor, because the depositor relied on the bank's commitment to Islamicizing its transactions and the existence of the Sharia board.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/117774
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 117774
- 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