Shar‘i Rulings on Taking Loans or Investing with Meezan Bank
❖ Question:
Some of my friends invest in Meezan Bank, and some have taken loans from it. Is it permissible to take a loan or invest with Meezan Bank?
❖ Answer by:
Shaykh ʿAbd al-Wakīl Nāṣir ḥafiẓahullāh
Whether it is Meezan Bank or any other bank, merely adopting an "Islamic" label does not make it truly Islamic.
If these institutions were genuinely based on Shariah, there would be no need for them to emphasize the term “Islamic”.
✔ It is well-established, and has been clarified in numerous writings and lectures, that all banks—including Meezan Bank—operate on an interest-based system.
✔ All of their transactions are deeply intertwined with Ribā (usury).
Banks present their schemes using Islamic terms like:
– Muḍārabah (profit-sharing)
– Mushārakah (partnership)
– Takāful (Islamic insurance)
But in reality, these are false claims, deceptive tactics, and marketing tricks with no genuine connection to Shariah principles.
Most banks have their own Shariah Boards, which supposedly oversee and validate transactions according to Islamic law.
✔ However, these boards often comprise individuals who issue fatwas for money, deceiving the public into believing that the bank’s operations are Shariah-compliant — while in truth, they are not.
Therefore, taking loans or investing in Meezan Bank or any other bank is not permissible,
because all of their dealings are rooted in interest (Ribā), which is categorically prohibited in Islam.
❖ Question:
Some of my friends invest in Meezan Bank, and some have taken loans from it. Is it permissible to take a loan or invest with Meezan Bank?
❖ Answer by:
Shaykh ʿAbd al-Wakīl Nāṣir ḥafiẓahullāh
✿ Islamic Labelling Does Not Make a System Islamic ✿
Whether it is Meezan Bank or any other bank, merely adopting an "Islamic" label does not make it truly Islamic.
If these institutions were genuinely based on Shariah, there would be no need for them to emphasize the term “Islamic”.
❖ The Banking System and Interest (Ribā)
✔ It is well-established, and has been clarified in numerous writings and lectures, that all banks—including Meezan Bank—operate on an interest-based system.
✔ All of their transactions are deeply intertwined with Ribā (usury).
❖ Deceptive Terms like Muḍārabah, Mushārakah, and Takāful
Banks present their schemes using Islamic terms like:
– Muḍārabah (profit-sharing)
– Mushārakah (partnership)
– Takāful (Islamic insurance)
But in reality, these are false claims, deceptive tactics, and marketing tricks with no genuine connection to Shariah principles.
❖ The Deception of Shariah Boards
Most banks have their own Shariah Boards, which supposedly oversee and validate transactions according to Islamic law.
✔ However, these boards often comprise individuals who issue fatwas for money, deceiving the public into believing that the bank’s operations are Shariah-compliant — while in truth, they are not.
✿ Conclusion ✿
Therefore, taking loans or investing in Meezan Bank or any other bank is not permissible,
because all of their dealings are rooted in interest (Ribā), which is categorically prohibited in Islam.
