Profits from an FNB Islamic Savings Account
Question
What is the Shariah status of the Islamic Savings Account that one can open at FNB? One does not receive any interest but a portion of the profit is periodically credited by the bank to such an account?
The Bank claims that a board of top Ulama have investigated the account and have granted approval.
Answer
We have not yet found any bank that is shariah compliant.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
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