Islamic Banks being the ‘lesser of two evils’

Question ID: 27092

In response to a valid, Sharia-based exposition on the haraam inner workings of Al Baraka Bank, a man says the following. Please comment on it.

“Criticism of Albaraka is shallow. Currently the entire community relies on a western interest-based banking system. Albaraka is a better and more Islamic alternative that offers us the opportunity to use our Muslim capital base outside of the conventional banking system.

If the community had to apply their meagre understanding of shariah (ulema to layman), the entire community would stop being able to function. So it is that there are thousands yelling in the dark, but very few who will light the way, and even fewer who will walk that path. Albaraka has started something. If you think their [sic] is a better option, light the way and walk it.”

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Asked on October 7, 2016 12:27 am
Private answer

السَّلاَمُ عَلَيْكُمْ وَرَحْمَةُاللهِ وَبَرَكَاتُهُ

One cannot replace one wrong with another.
Mufti Saeed Palanpuri, is the current Sheikhul Hadith of Darul Uloom Deoband plus 400 Muftis of Pakistan state that there is no such thing as ‘Islaamic Banking’.

وَعَلَيْكُمُ السَّلَام وَرَحْمَةُ اللَّهِ وَبَرَكَاتُهُ وَمَغْفِرَتُهُ
Mufti Elias

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Answered on October 13, 2016 3:09 pm