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What is the ruling regarding Kafala from Meezan Bank?

Answered as per Hanafi Fiqh by Jamia Binoria

What is the ruling regarding Kafala from Meezan Bank? And what is the ruling regarding storing money in a savings account in Meezan Bank, and earning a profit? Also, what is the ruling regarding a donator or guess eating food from the madrasa, as it is usually from the money of Zakat or charity?

الجواب حامدا و مصلیا

According to our research, most of the transactions that take place in Meezan Bank is supervised and managed by a Shari’ah board consisting of certified scholars. For this reason, storing money in a savings account in Meezan Bank and applying for Kafala will be permissible on the condition that they have been approved by the Shari’ah board.

This Q&A was indexed from the official english fatwa portal of Jamia Binoria. It is an Islamic educational institute in Karachi, Pakistan.

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