How do Islamic banks operate?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
If the intent is to know what banks actually do, then one should inquire from those in charge of them. However, if the intent is to know what ought to be done, then banks must strive for compliance in all transactions, avoid usury (riba), and find lawful alternatives to make Islamic societies self-sufficient from interest-based banks. They should also seek the assistance of jurisprudents (fuqaha) to review their transactions.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/52774
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- Ftawy
- Original fatwa ID
- 52774
- Imported
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