Is depositing an amount of 100,000 in an investment certificate with a 15% monthly interest rate for 3 years, with the possibility of taking a loan guaranteed by this certificate for 90,000 EGP at an 11% interest rate to be paid in installments, considered usury (riba)?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The bank in question is usurious, as it offers a fixed, guaranteed interest rate in exchange for the investment certificate. Therefore, it is not permissible to deal with it or borrow from it with interest, for all of that is usury, and it is among the gravest of prohibitions. Allah Almighty said: "O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers. And if you do not, then be informed of a war [against you] from Allah and His Messenger."
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/165968
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- Ftawy
- Original fatwa ID
- 165968
- 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