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The question

Are savings and investment accounts in a bank that claims to be Islamic and are based on a Mudarabah contract, compliant with Islamic Sharia, according to the terms and benefits mentioned for each?

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

No Shari'ah prohibition appears in the two types of investment mentioned with the bank, as long as the bank invests the funds through means compatible with Islamic Shari'ah, does not guarantee the capital, and both parties share the profit — if any — at a known ratio at the time of the contract. If this is achieved, then there is no harm in investing the funds and taking the profits, especially if the bank has a Shari'ah supervisory board.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
151306
Imported
Translation status
Source text, unreviewed
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