?Unanimous Fatwa (Ruling) on Islamic Banks by the most Senior Islamic Scholars and Mufti’s from all the four Provinces of Pakistan.
(This is the English translation of the last page of the fatwa where they conclude with a ruling signed by the Mufti’s as signatories, the full fatwa extends to a detailed judgment of 22 pages and was originally delivered in Urdu on Aug 28, 2008 at a Joint Convention at Jamia Farooquia in Karachi)
Fatwa:
“For the last few years the Sharia compliance Islamic banking has been under our scrutiny to see their accordance to the Muamalaat in Islam as per Quran and Sunnah of the Prophet Sallahu Ellahe Wasalam. We have also been examining the details of the documents, transactions and the contracts of Islamic banks and we have also referred and consulted the fiqh specialists and their works to give this detailed judgment. We have reached to the final conclusion that the Islamic (Ulemas) Scholars eligible to give Fatwa from all the four provinces of Pakistan have a unanimous judgment dated August 28, 2008, which is Thursday, 25th of Shabaan 1429, in a Joint Convention presided by the Honorable Shaykh Al Hadith Maulana Saleem Ullah in Jamia Forooquia, Karachi.
This convention which has the most senior mufti’s as part of the panel give a unanimous fatwa against all the banks that associate or call them Islamic, when they in fact in practice have nothing to do with Islam. Any business or Muamalaat done with them thinking them to be Islamic or in accordance with Sharia is haram and not permitted. These Islamic banks are the replica of the riba/usury based system and we have the same judgment of prohibition with them as with the conventional banks.
It is therefore compulsory and mandatory for all the Muslims to avoid haram and stay away from all the practices that are in violation of sharia.”
Signatories:
Shaykh ul Hadith Maulana Saleem Ullah . Jamia Farooquia, Karachi, Sindh.
Hazrat Maulana Mufti Ghulam Qadir. Dar Ul Alum Haqania Akora , Khattak. KPK
Hazrat Mufti Hameedullah Jaan . Jamia Ashrafia. Lahore. Punjab
Hazrat Maulana Mufti Hishaam Ullah Aseya Abadi, Jamia Rasheediya, Aseya Abad, Turbat, Makraan, Baluchistan.
Hazrat Maulana Mufti Abdul Hameeduddin Puri, Jamia Alum e Islamia, Banori Town. Karachi
Hazrat Maulana Mufti Saad Uddin. Jamia Haleemia, Laki Murawat, KPK
Hazrat Maulana Mufti Abdullah. Khair Ul Madaras, Multan, Punjab.
Hazrat Mufti Gul Hasan Bolani. Jamia Raheemia, Sarki road, Quetta, Baluchistan.
Hazrat Maulana Mufti Zarr Wali Khan. Jamia Ahsan ul Alum, Gulshan e Iqbal, Karachi, Sindh.
Hazrat Maulana Saeed Ahmad Jalal Puri. Alam e Majlas e Tahafuz Khatam e Nabuaat, Karachi. Sindh.
Hazrat Maulana Mufti Hamid Hasan. Dar ul Alum, Kabirwala, Punjab.
Hazrat Maulana Mufti Rozi Khan. Dar ul Iftatah e Rubaniya, Quetta, Baluchistan.
Hazrat Mufti Habibullah Shaykh. Jamia Islamia, Clifton, Karachi, Sindh.
Hazrat Maulana Mufti Abdul Qayyum Deen Puri. Dar ul Iftah Majlis e Tahafuz Khatam e Nabuwat. Karachi, Sindh.
Hazrat Maulana Mufti Nazir Ahmad Shah. Jamia Farooq e Azam, Faisalabad, Punjab.
Hazrat Maulana Mufti Saeed Ullah. Jamia Arbiya Taleem ul Islam. Quetta, Baluchistan.
Hazrat Maulana Mufti Ahmad Mumtaz. Jamia Khulfa e Rashideen, Karachi, Sindh
Hazrat Maulana Mufti Rafiq Ahmad. Jamia Alum e Islamia, Banori Town, Karachi, Sindh
Hazrat Maulana Mufti Shuaib Alam. Jamia Alum e Islamia, Banori Town, Karachi Sindh.
Hazrat Maulana Mufti Inaam ul Haq. Jamia Alum e Islamia, Banori Town, Karachi, Sindh.
Hazrat Maulana Mufti Muhammad Madni. Mohed ul Khalil ul Islami, Bahadurabad, Karachi, Sindh.
Hazrat Maulana Mufti Saleem Ullah. Daar ul Huda, Khairpur, Sindh
Hazrat Maulana Mufti Samiullah, Jamia Farooqia, Karachi, Sindh
Hazrat Maulana Mufti Ahmad Khan. Jamia Farooqia, Karachi, Sindh
Hazrat Maulana Mufti Abdul Ghaffar. Jamia Ashrafia, Sukkur, Sindh.
Hazrat Maulana Doctor Manzoor Ahmad Mengal. Jamia Farooqia, Karachi, Sindh.
Hazrat Maulana Mufti Asim Abdullah. Jamia Himadia, Karachi, Sindh.
Hazrat Maulana Mufti Imdad Ullah. Jamia Dahoor u Naru, Sindh
Hazrat Maulana Mufti Ahmad Khan. Jamia Umrkot, Sindh.
Hazrat Maulana Kaleem Ullah. Jamia Dahoor u Naru, Sindh.
Hazrat Maulana Mufti Amanullah. Jamia Khulfa Rashideen, Karachi, Sindh.
Important: And the Muftis who could not attend the convention but sent their consent are:
Hazrat Mufti Dr. Abdul Wahid. Jamia Madniya, Lahore Punjab.
Hazrat Mufti Muhammad Isa. Muftah ul Alum, Gujranwala, Punjab
Hazrat Maulana Mufti Haji Abdul Ghani. Dar ul Alum Chaman, Baluchistan.
P.S Find the enclosed copy of the original Fatwa by these Islamic Scholars.
All praise is due to Allah, who guides to His light whom He wills!
Now if only the learned Mufti from South Africa would apply his mind to the question of paper money in the same context….
ma’aslaamah.
Yes, indeed. That would be when things would become interesting. They have not yet seen that it is not the complexity of mudarabah, murabahah and musharakah that is the issue, although that later will be important, but the very matter which people are dealing with: which is paper money and electronic credit.
Ma’a salamah
Abdassamad
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