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Riba
Salam, I want to understand the position of Ghamdi Saheb on Riba especially as he mentioned Principle Secured Investments. This is in the context of what has been said previously ie banks are generally Riba based institutions, banking jobs are to be discouraged although they are not outrightly haram, interest cannot be demanded on a loan but investments can be structured in principle secured manner (agreed upon commercial interest will be permissible). Around the last point of investments structured as principle secured financings, is Ghamdi Saheb (or his team) comfortable with modern banking in North America as these banks serve large corporations. Specifically please note three such transaction examples and kindly advise if Muslim bankers (financiers) are permitted to engage in some or all.
https://finance.yahoo.com/news/tornator-secured-refinancing-eur-200-050000671.html
https://tech.eu/2023/10/27/bbva-spark-backs-twinco-capital-with-eur50m/
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Riba
updated 2 months, 3 weeks ago
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