Question Summary:
What is the compliancy status of FNB’s Islamic Finance for:

Question Detail:

What is the compliancy status of FNB's Islamic Finance for:
Loans [vehicle & home]
Deposits eg. Islamic Finance cheque account in which a profit accrues.

 

Answer :

In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatoh
The Darul Ifta has approved only the car finance product of FNB based on the ijarah product.
And Allah knows best
Wassalam
Mufti Ebrahim Desai
Darul Iftaa, Madrassah In'aamiyyah