Search Islamic Finance Answers

1,000+ scholar-approved answers and growing...

Transfers To And From Abroad
Is it permissible for banks to issue cheques to their clients drawn against correspondent banks abroad and arrange for transfers by wire and by mail to all parts of the world in the same way that it accepts such transfers in the interest of those with whom it deals locally?

Also is it permissible for the bank to accept brokerage fees as well as charge its client for its actual expenses?
It is permissible for the bank to continue its dealings as mentioned in regard to the issuing of cheques and arranging for transfers to and from abroad.

ASK AN ISLAMIC FINANCE QUESTION

Each question is reviewed by an Islamic finance expert and approved by a scholar.

Ask Now »

SEARCH ISLAMIC FINANCE Q&As

Browse one of the world's largest database of Islamic finance Q&As available online.

View details »

What’s New at Ethica

Press releases, live events, book recommendations, discount offers, and more

View details »