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The question

What is the Islamic legal ruling on documentary credits in major international trade transactions, and what is the ruling on dealing with them through a usurious bank if the seller stipulates that to the buyer?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

Summary of the Fatwa:

The ruling on Documentary Credits was previously detailed in Fatwa no. 67801. If the documentary credit is of the permissible type, there is no objection to a usurious bank acting as an agent, if an Islamic bank is not available and there is a need to deal with the usurious bank.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
70750
Imported
Translation status
Source text, unreviewed
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