Is the profit gained from Egyptian National Bank investment certificates with a fixed interest rate considered usury (riba) as mentioned in the Holy Quran?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is not permissible to deposit money in interest-based banks (ribawi banks). The interest accrued from such deposits is usury (riba), which is forbidden to benefit from. It must be disposed of by giving it to the poor or to public Muslim welfare projects. It is permissible to deal with the Islamic branches of banks if their transactions are free from prohibitions and in accordance with Islamic . Investment certificates with a fixed return are forbidden.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/172942
Where this answer came from
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- Ftawy
- Original fatwa ID
- 172942
- 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