Home » Hanafi Fiqh » Darulihsan.com » I have a 90 day participation account at Albaraka Bank. I get a quarterly “PROFIT” on maturity

I have a 90 day participation account at Albaraka Bank. I get a quarterly “PROFIT” on maturity

Answered as per Hanafi Fiqh by Darulihsan.com

Ref: tij007/08

February 2008

Q: I have a 90 day participation account at Albaraka Bank. I get a quarterly “PROFIT” on maturity 3 monthly. Is this profit strictly 100% halaal according to shariah?? Also, are all the returns from all types of investments in Albaraka Bank totally unreservedly halaal accordingly to shariah?

A:

To the best of our knowledge it is currently permissible to invest with Albaraka Bank and the returns on the investments are also permissible.

Mufti Shafiq Jakhura
Iftaa Department, Darul Ihsan Islamic Services Centre
 
I concur with the answer:
Mufti Zubair Bayat

Ameer, Darul Ihsan Islamic Services Centre

Original Source Link

This answer was collected from DarulIhsan.com. It’s the official website of Darul Ihsan, which is an Islamic organisation (PBO) based in Durban, South Africa.

Read answers with similar topics: