What is the ruling on bank profits amounting to 16,000 EGP on an original sum of 7,000 EGP deposited in an Islamic transactional account?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
The ruling on profits from branches of interest-based banks depends on the branch's adherence to Sharia principles and its independence from the main bank. If the branch is compliant and independent, then there is no harm in benefiting from its profits. However, if it does not adhere to the rulings of Sharia and uses the Islamic description as a cover, then its profits are unlawful interest (riba) and must be disposed of by giving them to the poor, public interests, and charitable causes.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/154862
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- 154862
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