Transactions of Islamic banks : HSBC Amanah personal loan

Fatawa Question

Asslamu Alikum I want to take loan from HSBC but through Amanah Personal Loan Method which the bank offers. the bank says it's Shari’ah compliant and approved by their Shari’ah committee. Is Amanh banking in UAE is Shari’ah compliant ? They say they buy copper for the money we have requested and sell the copper and then what ever the amount / profit with that they give it as a loan. These are some of the terms : competitive Murabahah profit rates, Zero down payment, No early settlement fee. This is their Shari’ah supervisory committee : http://www.hsbcamanah.com/hsbc/amanah_about/Shari’ah-supervision Jazakllah

Fatwa

Click hereto view more

Publication Date

2006-06-08

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-788453

• APA
• MLA
• AMA