Is depositing money in "United Egyptian Bank" with the available variable-yield certificates considered an Islamic transaction compliant with Islamic Sharia, and are the resulting profits free from the suspicion of usury (riba)?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
If the Islamic branch of the bank is independent of the interest-based branch, then there is no objection to depositing money in it. It is not a condition to know its activities as long as its supervision is not lenient in violating the Sharia. It is not possible to rule on a specific bank without knowing its activities and its Sharia supervision.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/70772
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 70772
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy