Question Summary:
FNB Islamic pocket savings account

Question Detail:

Assalamualaikum

Answer :

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The Darul Iftaa cannot comment on the FNB Islamic pocket savings account as it was not designed by the Darul Iftaa nor do we know the modus operandi of their investment model.  You may obtain the respective contract and forward it to us for our observations, as well as the avenues in which FNB is investing monies from the Islamic savings accounts.

And Allah Ta’āla Knows Best

Abu ‘Umar Muhammad bin Zayn Patel

Student Darul Iftaa
South Africa

Checked and Approved by,
Mufti Ebrahim Desai.