Is the financing of "Amana" by HSBC Bank compliant with the Qur'an and Sunnah?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
HSBC's personal "Amanah" financing relies on "organized Tawarruq," which is a forbidden transaction because it involves a trick to legitimize usury. The Islamic Fiqh Academy has issued a ruling prohibiting organized Tawarruq carried out through banks.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/18707
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- Ftawy
- Original fatwa ID
- 18707
- Imported
- Translation status
- Source text, unreviewed
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