Islamic banks may distribute pre-determined profit subject to adjustment

السؤال

I put my savings in an Islamic bank in Egypt (al Masraf al Islami al Dawli-intenational Islamic bank for investment and development). When I put my savings they made me sign on the rules that guide their investment which say that I will share with them their gain and loss. They say that they will pre-specify an average interest rate and at the end of each term they will update it according to whether they made more or less money. The problem is that i feel this is a fake since they always end up with the same average rate that they pre-specified every time. This has been the case for the past 10 years. I asked about other Islamic banks and they all do the same thing. Is this Riba or not ? My other concern is that I heard that these Islamic banks give loans to investors and apply compound interest (under implicit names) on them which is definitely Riba. Is that true ? If so, what should one do with his / her money ? If i put it in checking account (whether Islamic or non-Islamic banks) then I will get no income back but they will still be investing it in Riba if they actually do compound interest. What should one do with his / her savings ?

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2003-01-16

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
العلوم المالية و المحاسبية
الأديان
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• الاقتصاد الإسلامي
• الأرباح
• الاستثمارات
• مصر
• الودائع المصرفية
• المعاملات
• المصارف الإسلامية

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-724704

• APA
• MLA
• AMA