Purchasing Commercial Bank Shares

[Dr. Irfan Shahzad]

It depends upon the nature of investment or business, a bank runs. Most of the banking is no longer Riba-based, and commercial loans are in fact investments, not loans. Mortgage is halal too.

However, a personal loan incurs Riba, which constitutes a small portion of the bank’s income. Now one can decide to do business bank or not.

[Abdul Musawir]

Sir please guide us to make that decision. To do or not to do? Is this matter mushtabeh? Better if you avoid it but you won’t be sinful if you purchase shares of conventional banking like MCB, UBL etc?

[Dr. Irfan Shahzad]

As I said earlier that a very small portion of banking involves Riba. Now you can make your decision. If You opt for it being a reliable investment, we can hope God will ignore this minor anomaly.

[Abdul Musawir]

Thanks sir. It is very helpful.