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The question

What is the legal ruling for authorizing a bank to purchase and trade shares, such as the Amanah Fund at the Saudi British Bank?

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

We have no knowledge of the safety deposit box at the Saudi British Bank. If the bank deals in usury (riba), it most likely does not adhere to -compliant regulations in its transactions. Trading in shares is permissible on condition that: the company's activity is lawful, the company avoids Sharia violations such as (excessive uncertainty) and (gambling), and it does not invest its funds in usurious banks. There is no objection to appointing banks, companies, or individuals to buy and sell shares if the aforementioned conditions are met.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
60792
Imported
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Source text, unreviewed
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