Permissibility of investing in an Islamic division bank

Question ID: 24314
0
0

Asalaamualaikum.

Is it permissible to invest in the islamic division of a local south african bank, which is run and overseen by muslim scholars and businessmen? The bank though is not an islamic one.They also have a product that combines investing and savings, returning a profit share after the investment matures. They’ve stated that the investments are shariah compliant indices.
Shukran for your time.

Marked as spam
Asked on December 17, 2011 1:29 pm
17 views
0
Private answer
We are not happy. There is no Halaal Islaamic Banking. How can investment and saving combine? All are linked eventually to the Haraam interest super bankers.
Marked as spam
Answered on December 17, 2011 1:29 pm