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?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
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
Read the full answer on Ftawyhttps://ftawy.com/en/questions/49473
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- Ftawy
- Original fatwa ID
- 49473
- Imported
- Translation status
- Source text, unreviewed
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- Read the full answer on Ftawy