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The question

Is Al Baraka Bank Egypt Islamic considered un-Islamic because of its dealings in treasury assets, and should money and profits be withdrawn from savings and deposit accounts?

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

The principle is that Islamic banks operate according to Sharia, but they vary in their degree of adherence. A precise ruling on the transactions of the mentioned bank cannot be issued without examining its operating system and investments. However, there is no harm in benefiting from the profits it provides. To avoid doubt in the future, one can consult a trustworthy scholar who is knowledgeable about Islamic banking affairs there.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
151014
Imported
Translation status
Source text, unreviewed
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