AskImamDarul Iftaa Mahmudiyyah (AskImam)

Islamic Banking in UK

Fatwa 15087English
Jurisprudence and Rulings (Fiqh)

Question

I am a university student in the UK. I am studying Islamic banking as my dissertation in my final year BA business studies. I am wondering if you can help me. the aim of my dissertation is to find out that if, who uses (which type of people i.e. age, location) Islamic banking in the UK? Why do people use Islamic banking in the UK? and is Islamic banking actually Islamic (i.e. does it actually comply with the teachings of Islam). i would be very grateful if you could advise me on these iissues as soon as possible please. I would also request that could you please NOT publish the answer on the website as I need to use it as my primary research and if it is published on the website, it will become secondary data.

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

We are based in South Africa . We therefore cannot assist you regarding the issues of Islamic banking in UK.

And Allah knows best

Mufti Ebrahim Desai

Answered by
Mufti Ebrahim Desai
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