The bank approached the Shariah board to know if it is allowed for the customer to withdraw the amount from the term deposit account before maturity, and in this case what will be its treatment in respect of the original deposit amount and the profit
Fatawa Question
A customer who had deposited a certain amount for one year in a term deposit account maintained with an Islamic bank, has requested for an early withdrawal of the total amount deposited along with the realized profit. The bank approached the Shariah board to know if it is allowed for the customer to withdraw the amount from the term deposit account before maturity, and in this case what will be its treatment in respect of the original deposit amount and the profit.
Fatwa
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Publisher
Publication Date
2013-11-27
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-783601
American Psychological Association (APA)
Hassan, Husayn Hamid. 2013-11-27. The bank approached the Shariah board to know if it is allowed for the customer to withdraw the amount from the term deposit account before maturity, and in this case what will be its treatment in respect of the original deposit amount and the profit. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783601
Modern Language Association (MLA)
Hassan, Husayn Hamid. The bank approached the Shariah board to know if it is allowed for the customer to withdraw the amount from the term deposit account before maturity, and in this case what will be its treatment in respect of the original deposit amount and the profit. Kuala Lumpur Malaysia : Islamic Finance News. 2013-11-27.
https://search.emarefa.net/detail/BIM-783601
American Medical Association (AMA)
Hassan, Husayn Hamid. 2013-11-27. The bank approached the Shariah board to know if it is allowed for the customer to withdraw the amount from the term deposit account before maturity, and in this case what will be its treatment in respect of the original deposit amount and the profit. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783601
