Is it permissible to deposit money in Islamic banks for savings, and what are the names of some reliable Islamic banks in Alexandria, Egypt?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
For dealing with Islamic banks to be permissible, their transactions must be governed by principles. In that case, there is no harm in depositing money in them for savings or investment.
As for Faysal Islamic Bank, it generally adheres to Islamic principles, although occasionally there are some Sharia violations due to the Sharia supervisory board's selection of some weak jurisprudential opinions or the negligence of employees.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/95036
Where this answer came from
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- Ftawy
- Original fatwa ID
- 95036
- 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