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The question

Are the dealings and profits of Faisal Islamic Bank of Egypt permissible, given that it is subject to the Central Bank of Egypt, which relies on usurious transactions?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

If there is a pre-determined and unchangeable profit margin between you and the bank, this is usury (riba). However, if the bank invests customers' money in permissible ventures without specifying a fixed amount for profits, then this is a legitimate Mudarabah (profit-sharing) contract. There are many permissible investment avenues not limited to banks.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
49473
Imported
Translation status
Source text, unreviewed
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