Q:
Is it permissible to deposit money to be invested in an Islamic investment bank?
It is worthy mentioning that such a bank is not usurious, it does neither receive nor give interest. Rather, it invests its money in accordance to Shar`y (Islamic legal) rules. Profits from commercial activities of the bank, which may gain and may lose, are distributed by the end of every financial year amongst depositors and investors according to instructions.
A:
If the reality is exactly what is mentioned in the question i.e. This Islamic bank (Part No. 13; Page No. 366) is not usurious and it invests its money in accordance to Shar`y rules, it is permissible for you to deposit your money in it to invest it.
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
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