Question

Bank is entitled to refuse investments of those whose income is doubtful

436

Question

salam.. The bank refuse investment from certain individuals and companies whose income is questionable. Is it shariah compliant or not?

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Accepted Answer

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallallaahu ‘alayhi wa sallam, is His Slave and Messenger.

The Bank or any other entity cannot be blamed for refusing to deal with whomever it has doubts about the lawfulness of his money, especially if its doubt is based on a proof. Even if the bank has no doubt about one's money, it is not obliged to deal with every individual or company that wants to deal with it.

If that is what you have meant in your question, then we have pointed it out and if you mean something else, please explain it to us so that we may answer you.

Allaah Knows best.

Fatwa

Bank is entitled to refuse investments of those whose income is doubtful

Question

Answer

Related Fatwa

Taking Personal Loan from Islamic Banks in Qatar

Obligation to pay accumulated bank fees

An Islamic bank offering a fixed profit rate

Dealing with a bank whose shareholders' money is not lawful

Islamic finance companies asking for securities from their clients

Cooperation for establishing Islamic banks

Disposing of a car purchased from an Islamic bank before paying its full price

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