Bank

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Question ID: 38522
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I have a participation account opened for my 5 year old daughter at AL-Barakah bank. Is this account ok as we are told that profit’s are earned by the bank using the money to buy assets for people and selling it to them at a profit.
If it is not permissible to keep the money there, do i take out the entire amount(incl the earnings) or only what was initially deposited?

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Asked on January 1, 1970 12:00 am
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Safer to take out all, give away in charity the so called 'earnings'

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Answered on January 1, 1970 12:00 am