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The question

Is depositing money in "United Egyptian Bank" with the available variable-yield certificates considered an Islamic transaction compliant with Islamic Sharia, and are the resulting profits free from the suspicion of usury (riba)?

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

If the Islamic branch of the bank is independent of the interest-based branch, then there is no objection to depositing money in it. It is not a condition to know its activities as long as its Sharia supervision is not lenient in violating the Sharia. It is not possible to rule on a specific bank without knowing its activities and its Sharia supervision.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
70772
Imported
Translation status
Source text, unreviewed
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