What is the ruling on Islamic Certificates of Deposit with a return at the end of three years or at the end of each month, issued by the International Islamic Bank for Investment and Development in Cairo?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The information indicates that 10% of the shares of the aforementioned bank have become owned by interest-based banks. The questioner should verify this. Based on this, if the deposit is subject to the laws of the banks that bought its shares, then it is impermissible due to its inclusion of prohibited usury (riba). Islamic banks vary in their adherence to depending on the capacity of their Sharia board and the seriousness of the management in implementing its decisions. A Muslim is required to seek out what is lawful and avoid what is unlawful.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/45022
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 45022
- 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