Please help me to know about Islamic Banking, theory, systems, etc.

· 17 Shawwal 1441 AH1 min readFatwa 23198English

Question

Please help me to know about Islamic Banking, theory, systems, etc. Also kindly provide address of organization or bank in Middle East which successfully adopted pure Islamic Banking theory

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Muhtaram,

Islamic Finance and Economics is a vast field which requires a great amount of expertise and talent. It is therefore imperative that one who wishes to gain a good understanding and sound knowledge of the field that he study under the tutelage and supervision of an experienced and trusted scholar.

Alhamdulillah, Hazrath Mufti Ebrahim Desai Saheb (Damat Barakatuhum) is one of those experienced and learned scholars who have done extensive research in the field of Islamic Finance and Economics.

You may study his book entitled “Introduction to Islamic Commerce”. Kindly find an attached copy of the book.

Should you have any queries on Islamic Finance or anything else, you are most welcome to submit them to the Darul Iftaa email address at: admin@daruliftaa.net

And Allah Ta’āla Knows Best

Ismail Desai,
Student Darul Iftaa
Durban, South Africa

Checked and Approved by,
Mufti Ebrahim Desai.

Answered by
Ismail Desai
Checked & approved by
Mufti Ebrahim Desai
Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah. It is not a fatwa service. For your own situation, please ask a Mufti. Report an issue

For corrections or mistakes, please email us at fatawasa786@gmail.com.

People also ask

Is Islamic banking halaal?

“We do not find the workings and operations of Islamic banks to be consistent with the principles of shariah in regard to commerce and trade. Hence, we feel that the manner in which Islamic banks operate is not shariah compliant,…”

Mufti Online · 92 fatawa from 5 Darul Iftas on this

What the Darul Iftas say