Ruling on savings certificates with variable return from the Faisal Islamic Bank

We do not know anything about the investment methods used
by the Faisal Islamic Bank. We have previously explained the shar‘i
guidelines on investment in the answer to question no.
113852. 

There is nothing on their website to explain the issue of
capital: is it guaranteed by the bank or not? And there is no information on
the share of profit which should be stated. In the answer referred to, we
explained that it is essential to state the rate of profit, such as 5% or
10% for example, from the profit and not from the capital. It is not valid
to invest or engage in mudaarabah if this rate is not stipulated in the
contract, contrary to what is commonly believed, that shar‘i investment is
that in which nothing is stipulated. 

To sum up: If the conditions of valid investment are met in
this contract – which does not appear to us to be the case from their
website – then there is nothing wrong with entering into it. 

And Allah knows best.