Is it permissible to buy shares in the Arab Electronic Bank, which claims that its dealings are lawful and that its profits do not fall under usurious interest, because they are based on buying and selling and are not fixed?

It is not permissible to invest in the aforementioned bank due to the absence of the conditions for Sharia (definition)-compliant investment: First, the bank does not disclose the investment avenues in which the funds will be placed. Second, the capital is guaranteed, which makes the contract an interest-bearing loan (riba). Third, the profit is determined as a percentage of the capital, not of the actual earnings. Therefore, investing in this bank is a forbidden interest-bearing loan, and people must be warned against it. Those who have already invested should be advised to withdraw and retrieve their money. Furthermore, the website does not provide real guarantees for safeguarding shareholders' funds, and relying on "experience is the best proof" or participants' account statements does not establish credibility.