How do Islamic banks operate?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
If the intent is to know what banks actually do, then one should inquire from those in charge of them. However, if the intent is to know what ought to be done, then banks must strive for compliance in all transactions, avoid usury (riba), and find lawful alternatives to make Islamic societies self-sufficient from interest-based banks. They should also seek the assistance of jurisprudents (fuqaha) to review their transactions.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/52774
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 52774
- 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