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Is Earning Profit From An Islam Bank Permissible
I understand that taking profit from a bank is generally considered haram, but if the bank is Islamic such as Meezan Bank, which has been given a fatwa by Mufti Taqi Usmani confirming that it meets the criteria of being an Islamic bank, can we then fix our amount and take profit from it? Is this permissible according to Islamic principles?
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1 Reply
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Is Earning Profit From An Islam Bank Permissible
updated 11 months, 2 weeks ago
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The major portion of bank’s business is not usuryb and its profit is not usuryb or Riba, whether it is islamic bank or not. The profit it gives is not haram. A fix profit is not haram.
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