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What is the compliancy status of FNB’s Islamic Finance for:

Answered according to Hanafi Fiqh by Askimam.org

What is the compliancy status of FNB’s Islamic Finance for:

  1. Loans [vehicle & home]
  2. Deposits eg. Islamic Finance cheque account in which a profit accrues.

 

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

The Darul Ifta has approved only the car finance product of FNB based on the ijarah product.

And Allah knows best

Wassalam

Mufti Ebrahim Desai
Darul Iftaa, Madrassah In’aamiyyah

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