What is the ruling on taking a loan from Abu Dhabi Islamic Bank in the Arab Republic of Egypt when there is interest on the loan?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
The method by which the transaction will be conducted has not been clarified for judgment. Islamic banks do not offer interest-based loans, but rather financing transactions such as Tawarruq. A resolution has been issued by the Islamic Fiqh Academy prohibiting organized Tawarruq, which is practiced by some banks.
Summarized from the full answer at Ftawy · imported
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- 168066
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