Having shares in the Saudi-American Bank Question: Advise us, may Allaah increase you in knowledge, about the ruling of having shares in the Saudi-American Bank. Is it ribaa, since it trades in interest and is based upon interest, as we know? Response: The Saudi-American Bank and other banks, if they are based upon ribaa and trade inribaa, then […]
The ruling regarding using a credit card Question: There are banks which provide their customers with a card called “Visa”. This (card) then permits them (customers) to withdraw cash from the bank, even if they do not have sufficient funds in their account at the time. After a (specified) period of time, the customer is […]
The ruling about having shares in companies and banks Question: What is the ruling about having shares in companies and banks’? And is it permissible for a shareholder (in a company or a bank) to sell shares, specifically after he has become a shareholder himself, to offices dealing in buying and selling (stockbrokers)? And from […]