Islamic banks in UAE

Fatawa Question

I have an account with Islamic bank in UAE and that bank gives profit yearly. On this profit some Muslim brother are commenting this is also a kind and different of interest but Islamic banks have termed as profit instead of telling Interest. Kindly make me clear in this regard.

Fatwa

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Publication Date

2002-03-27

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Islamic economics
• Financing
• Profits
• United Arab Emirates
• Islamic Banks

Data Type

Fatawa

Language

English

Record ID

BIM-724571

• APA
• MLA
• AMA