Islamic account type

This fatwa has been requested to clarify the permissibility of conducting trade and investment activities with individuals, organizations, and institutions regardless of their religious affiliation, in accordance with the principles of justice, cooperation, and ethical commerce.

Legal Basis

General Principle of Trade:

Islam permits trade and financial transactions that are free from prohibited elements such as riba (usury), gharar (excessive uncertainty), and haram (forbidden goods/services).

Relations with People of Other Faiths:

The Qur’an encourages fairness and justice towards all people (Qur’an 60:8), and the Prophet Muhammad engaged in commercial transactions with people of different religions in Medina.

Universal Application:

There is no prohibition in Shari’ah against conducting lawful trade with members of other faiths, provided transactions remain within ethical and legal frameworks.

Ruling (Fatwa)

It is permissible for LlyodStern to conduct investment, trading, and financial partnerships with individuals and organizations of all religions, as long as:

The nature of the trade is lawful (halal).

The transactions are free from interest, gambling, fraud, or prohibited industries.

The agreements are based on mutual consent, transparency, and fairness.

On the basis of the above principles, it is ruled that LlyodStern may engage in business and investment activities with all communities and religious groups, provided compliance with ethical and Shari’ah guidelines is maintained.