Title: Islamic Banking is growing very fast in Pakistan and other islamic countries. Some people believe that their products like Mudarba,Musharka,Ijara and Takaful are not according to Sharia,and these are only trapes to get the money of those persons who want to avoid RIBA(intrest).What is your value judgement on this subject.

Question: Islamic Banking is growing very fast in Pakistan and other islamic countries. Some people believe that their products like Mudarba,Musharka,Ijara and Takaful are not according to Sharia,and these are only trapes to get the money of those persons who want to avoid RIBA(intrest).What is your value judgement on this subject.

Answer ID: 29524Posted on: Aug 30, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 245/245/M=1432)

We do not have the details regarding Islamic banking system; hence, we are sorry to say anything in this regard. But, those who are sure that the banks' system is not compliant to shariah principles of Shirkah and Muzaribah etc, they should discuss this matter with the managers and be satisfied.