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The shariah merit of bank deposits

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Alhamdulillah, Islam is an international religion and ample guidance to spend life. The Islamic scholars have divided Islam into five fundamental branches. 1. Belief 2. Character 3. Worship of ALLAH 4.Dealings & transactions 5.Social conduct. There are detailed rulings of all the five branches in the Holy Quran and Sunnah. Today the matters relating to dealings and transactions are in need of detailed research because we are in modern era of changes and industrial revolution, the mutual relations of different countries, the international trade orders and many new shapes of the banking system are some factors that lead to need of derivation and Ijtihad in financial matters. All praises are for Allah. It’s a cause of happiness to know that along with our beloved country Pakistan, all over the world, the trend of Islamic banking is growing day by day, because of which not only are new Islamic banks and financial institutions being founded but also the present commercial banks are opening sectors of Islamic banking. This change as it points to the awakening of the Muslims that they are now not just confining their religion to the mosques but are implementing it in all sectors of life, it also points to the fact that Islam in the in the only religion that even after 14 centuries, it today is as capable of being followed as it was in the past, It comprises of all instructions relating to the changes that occur in all eras, and is fully capable of being a guide for man at any time. This composition is a brick to this work. The Sharia standers of bank deposits have been discussed in the light of jurisprudence in this composition, both the deposits of Islamic and conventional banks have been discussed . We pray to Allah for the acceptance of this work, and to make it credit in the hereafter for me, my parents and teachers.

Kausar Ali, Dr. Abdul Gafoor Baloch. (2018) ینک ڈپازٹ کی شرعی حیثیت, Al-Azhāar, Volume 4, Issue 2.
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