What is the ruling on opening a savings account with a return at Al Rajhi Bank, based on details stating that funds are invested in a Mudarabah pool approved by the Sharia Board, that the bank does not guarantee the capital, and that losses are borne by the client, with profits divided between the client and the bank, and does the condition that the daily closing balance must not be less than 20.0 Riyals affect the ruling?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
If the savings account is compliant with provisions and operates according to the legitimate (profit-sharing) formula, whereby the bank invests the deposited funds in permissible projects, and the capital owner has an agreed-upon share of the profit, and the capital owner bears the loss without transgression or negligence on the part of the bank, and the bank does not guarantee the capital, then there is no harm in this transaction or in benefiting from its profits. It is preferable to consult the bank's Sharia board for inquiry.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/174408
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 174408
- 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