Home » Hanafi Fiqh » Muftionline.co.za » Are Islamic Banks Just Like Other Banks?
Q: I see many Islamic banks charge everything like other banks, they are just changing the name. So, isn’t it haraam to take a loan for a car or anything else from them?
A: If what you are saying is right, that they are just changing names then changing names does not make a haraam into halaal.
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
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.
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