Is it permissible to open an account in banks which are called as "Islamic banking", such as Meezan Bank, etc., and deposit money in them, and earn interest on that money?
Yes! "Meezan" and "Bank Islami" arrange transactions on the basis of Mudaraba, Musharaka and Murabaha in their fixed deposits, therefore, opening an account in them or earning profit through fixed deposits is permissible in itself.
However, if there is a deficiency in a particular matter, then it may be fully explained and the Sharia ruling can be found out.
Permissibility and impermissibility of profits gained through Islamic banks
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