The World Federation One Stop Fiqh
Search
Menu

Ask an Alim

Fixed Profit in a Islamic Bank.

Q:

Assalamualaikum I have some amount of money deposited in a Islamic bank and they provide me some amount of profit every month which sometime is more and sometimes less but no fixed profit … it’s an Islamic bank … is it halal to take the profit that is given by the Islamic bank

A:

Alaykum Salaam

Since it is a Muslim bank, one can assume that they are aware of the rulings regarding interest and so are paying you from investment profits which is halal for you to receive.

Kind regards

Abbas Jaffer.