{"id":6839,"date":"2024-07-10T07:44:10","date_gmt":"2024-07-10T07:44:10","guid":{"rendered":"https:\/\/al-mawrid.org\/questions-en\/2024\/07\/10\/investment-in-the-so-called-islamic-banks\/"},"modified":"2025-11-16T21:49:14","modified_gmt":"2025-11-16T16:49:14","slug":"investment-in-the-so-called-islamic-banks","status":"publish","type":"post","link":"https:\/\/al-mawrid.org\/questions-en\/investment-in-the-so-called-islamic-banks\/","title":{"rendered":"Investment In The So-called Islamic Banks"},"content":{"rendered":"<h3>Question<\/h3>\n<p>I have fifty million rupees deposited in Meezan Bank for seven years. My questions to Mr Javeed Ahmed Ghamidi follow:<\/p>\n<div>a.  Is this bank really working as per Shar\u012b\u2018ah? They do not give fixed  profit and claim that they do not invest our money in un-Islamic trades.  <\/div>\n<p>b. Do I have to pay the zakah on the original amount deposited and on the profit? Bank deducts 10% tax on my profit each month. <\/p>\n<h3>Answer<\/h3>\n<p>What Islamic banks earn for you comes from primarily two sources: leasing and <em>murabahah<\/em>. While leasing is right from the Shari&#8217;ah point of view, <em>murabahah<\/em> is not. Therefore, if you get a return from an Islamic bank, half of the income is okay and half of it is not. <\/p>\n<div>If  you have done an investment which bears returns to you, zakah has to be  paid on the returns and not the original investment. Therefore, you  have to pay <em>zakah<\/em> at the rate of ten percent on whatever returns you receive as and when they occur.<\/div>\n<p>If the bank is already deducting 10% from your profit as tax, you don&#8217;t have to pay any more <em>zakah<\/em> on it.<\/p>\n<p><strong>Answered by:<\/strong> Dr. Khalid Zaheer<\/p>\n<p><strong>Date:<\/strong> 2015-03-05<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"6839\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorite <i class=\"sf-icon-star-empty\"><\/i><\/button>","protected":false},"excerpt":{"rendered":"<p>I have fifty million rupees deposited in Meezan Bank for seven years. My questions to Mr Javeed Ahmed Ghamidi follow:<\/p>\n<div>a.  Is this bank really working as per Shar\u012b\u2018ah? They do not give fixed  profit and claim that they do not invest our money in un-Islamic trades.  <\/div>\n<p>b. Do I have to pay the zakah on the original amount deposited and on the profit? Bank deducts 10% tax on my profit each month. <\/p>\n","protected":false},"author":7,"featured_media":14147,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1169],"tags":[1171,1170,1172,1233,1481],"class_list":["post-6839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-issues","tag-banks","tag-islamic-banking","tag-islamic-banks","tag-zakah","tag-zakah-on-investment"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investment In The So-called Islamic Banks - Al-Mawrid Queries<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/al-mawrid.org\/questions-en\/investment-in-the-so-called-islamic-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investment In The So-called Islamic Banks - Al-Mawrid Queries\" \/>\n<meta property=\"og:description\" content=\"I have fifty million rupees deposited in Meezan Bank for seven years. My questions to Mr Javeed Ahmed Ghamidi follow:a. Is this bank really working as per Shar\u012b\u2018ah? They do not give fixed profit and claim that they do not invest our money in un-Islamic trades. b. Do I have to pay the zakah on the original amount deposited and on the profit? Bank deducts 10% tax on my profit each month.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/al-mawrid.org\/questions-en\/investment-in-the-so-called-islamic-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"Al-Mawrid Queries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/almawridofficial\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-10T07:44:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-16T16:49:14+00:00\" \/>\n<meta name=\"author\" content=\"Khalid Zaheer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AlMawridOffice\" \/>\n<meta name=\"twitter:site\" content=\"@AlMawridOffice\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Khalid Zaheer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/investment-in-the-so-called-islamic-banks\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/investment-in-the-so-called-islamic-banks\\\/\"},\"author\":{\"name\":\"Khalid Zaheer\",\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/#\\\/schema\\\/person\\\/627b1d2f160f8650034517f6dbc773d5\"},\"headline\":\"Investment In The So-called Islamic Banks\",\"datePublished\":\"2024-07-10T07:44:10+00:00\",\"dateModified\":\"2025-11-16T16:49:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/investment-in-the-so-called-islamic-banks\\\/\"},\"wordCount\":207,\"image\":{\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/investment-in-the-so-called-islamic-banks\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/Queries.png\",\"keywords\":[\"banks\",\"islamic banking\",\"islamic banks\",\"zakah\",\"zakah on investment\"],\"articleSection\":[\"Economic Issues\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/investment-in-the-so-called-islamic-banks\\\/\",\"url\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/investment-in-the-so-called-islamic-banks\\\/\",\"name\":\"Investment In The So-called Islamic Banks - 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