Back to search
The question

Could you provide me with a copy of the fatwa from Al-Azhar Al-Sharif concerning dealings with banks?

Share this answer

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

Fatwas have been issued by Al-Azhar prohibiting the deposit of money in interest-bearing banks in return for a predetermined interest, as this interest is considered usury, an unlawful increase according to . However, investment without a predetermined interest – subject to profit and loss – is permissible and lawful because it falls under the legitimate contract of (profit-sharing). The prohibited interest is not subject to and must be disposed of by giving it away as charity. Zakat is obligatory on the principal capital and lawful profit if they reach the

(threshold).

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Where this answer came from
Source platform
Ftawy
Original fatwa ID
52441
Imported
Translation status
Source text, unreviewed
Read the full ruling
Read the full answer on Ftawy