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Islamic Banking Rules: Explained

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: What are the rules for Islamic banking? Please explain.

Bismillaah

A: There are many kitaabs prepared on the subject of islamic banking, but since it is not possible for the layman to fully comprehend the concepts, principles and influencing factors in regard to the various modes of finance in islamic banking, we advise that for every transaction one intends embarking on he refer to a qualified Aalim who is knowledgeable in this field.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.