Buying shares in a bank that does not deal in ribaa
Question The Islamic bank has shares for sale. The values of one share is US$110. Our understanding is that this bank does not deal in ribaa and that the values of the shares will be used in business ventures that are free of any dealings in ribaa, and the profits will be divided among the…
Question
The Islamic bank has shares
for sale. The values of one share is US$110. Our understanding is that
this bank does not deal in ribaa and that the values of the shares will be
used in business ventures that are free of any dealings in ribaa, and the
profits will be divided among the shareholders. Because we are worried
about falling into anything that is prohibited, we hope that you will tell
us whether this is allowed or not.
for sale. The values of one share is US$110. Our understanding is that
this bank does not deal in ribaa and that the values of the shares will be
used in business ventures that are free of any dealings in ribaa, and the
profits will be divided among the shareholders. Because we are worried
about falling into anything that is prohibited, we hope that you will tell
us whether this is allowed or not.
Praise be to Allah.
It is permissible to buy shares in banks which do not
deal in ribaa, and the profits earned through having shares in the bank
and which are the result of dealings that did not involve anything haraam
are halaal.
And Allaah is the source of strength. May Allaah
bless our Prophet Muhammad and his family and companions, and grant them
peace.
