Company a has approached an Islamic bank seeking finance to import steel and other building materials from various suppliers
Fatawa Question
Company A has approached an Islamic bank seeking finance to import steel and other building materials from various suppliers. It has been noticed that the company A is holding 25 % of the shares of company B. Company A is engaged in the business of building materials, while company B is involved in foodstuff import and supply including alcohol. Can the Islamic bank extend financing for company A in order to import steel and building materials, despite its ownership in company B which deals in goods including alcohol ? Shariah guidance is sought in this situation.
Fatwa
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Publisher
Publication Date
2014-05-21
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-783539
American Psychological Association (APA)
Hassan, Husayn Hamid. 2014-05-21. Company a has approached an Islamic bank seeking finance to import steel and other building materials from various suppliers. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783539
Modern Language Association (MLA)
Hassan, Husayn Hamid. Company a has approached an Islamic bank seeking finance to import steel and other building materials from various suppliers. Kuala Lumpur Malaysia : Islamic Finance News. 2014-05-21.
https://search.emarefa.net/detail/BIM-783539
American Medical Association (AMA)
Hassan, Husayn Hamid. 2014-05-21. Company a has approached an Islamic bank seeking finance to import steel and other building materials from various suppliers. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783539
