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| *The Commerce Journal>>>Investing |
What if a bank said there intrest rate is "Halal" ? |
what does a bank need to do to prove that there Islamic bank fund is halal what government or religious entity do you need to hear it from for is reference to shari3a and sona all you need for proof? A bank is unlikely to claim that it satisfies Sharia law against receiving or taking interest because it would quickly be discovered if that were not the case. Despite the Islamic law, banks and Islamic individuals have learned long ago that money is used to earn more money, and whether you call it fees, commissions, dividends, or services, money is invested to make money, which amounts to interest. If a bank can go through the necessary contortions to satisfy the rule and still put your and their money to work, more power to them. Take advantage of it and ensure your route to heaven. |
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