Ruling on investing in the al-Baraka Banking Group

The al-Baraka Banking Group adheres in its programs and goals
to Islamic sharee‘ah, and contributes to reviving and propagating Islamic
banking. It has a sharee‘ah board that supervises activities. 

Therefore the basic principle is that it is permissible to
invest in its programs and products, so long as there does not appear to be
anything wrong in any of those programs, in which case one should avoid
investing or dealing in those programs. 

We only say this because in some Islamic banks there are some
things that are contrary to Islam, such as organized tawarruq involving metals , or stipulating a penalty for any delay in credit card payments or some
irregularities in muraabahah transactions, or stipulating that a percentage
be paid when making withdrawals with one’s credit card. Statements have been
issued by the Islamic Fiqh Council that these transactions are haraam, but
the group referred to had adhered to the opinion of their Sharee‘ah Board
concerning them. Hence we cannot rule that all transactions done by Islamic
banks are valid. However the basic principle is that transactions are
permissible, but one should be prudent and ask about the transactions that
are subject to differences of opinion, such as those referred to above. 

And Allah knows best.