How to make sure that this new bank or this particular bank is Sharia compliant

it's a very good question for labor from a labor perspective yeah I mean it's a very good question and look from the layperson's perspective your own responsibility is if there's a scholar and that's why it's really important.

It's almost I'd say mandatory for any offer to have some kind of Sharia advisor or scholar involved reviewing the processes just because the non-compliance risk is huge the Syrian and compliance risk is really high if and the only way to mitigate that is one of the strongest mitigates for non-compliance risk is to have Scholars involved who would export scholars in this space who can review advise structure Pro you know to develop and audit and so from a layperson perspective.

The first Port of Call would be to see if a Sharia advisor is involved right do they have a scholar if they have a scholar really you are absorbed you are not required then to investigate further you can trust an Islamic perspective it's you can trust the Scholar's View is a knowledgeable scholar you know he's a reputable scholar you can take his opinion he's known for his piety or you know he has nothing which is you know alarming about him then you can take that his View and his opinion and we can Bank inshallah you've done you what's your duty as a layperson it's the Scholar's responsibility it's his duty he'll be accountable even from an Islamic perspective he's accountable to ensure everything is very compliant if anything is not sure or compliant he'll be liable primarily in front of Allah that's the key that's and that's how important and delicate this matter.

That's why  the Sharia advises the Sharia scholar it's his duty to ensure everything should be compliant as a layperson if you see a share your advisor you can be assured inshallah most of these advising Scholars are well versed they know what they're doing and they do you know fully  you know Take This Job seriously from from my kind of experience which it is very seriously in ensuring everything's very compact because it's a big Duty you're talking about people in the livelihood people's money being Halal and Haram and we know the Hadith whereby the prophet saws told us about this person who you know he told us I think of a person who's in a desert is disheveled you know his head's all over the place it's traveling and then he raises his hands and you start saying the person said how kind is do I be accepted when you know he's been fed with Haram he's been he's been drinking Haram is clothed with Haram the person said how can such a person do I be accepted because his clothing is Haram his food is Haram his income is Haram so you know this this area of Halal and Haram income is a very serious matter because it means your Dua your prayers will be impacted right and you're from the Hadith we learn that duas are not accepted in the stage and so imagine now for for an advisor or scholar to being in that position having to judge whether something is a very delicate and serious matter because if he makes a mistake or if he's careless that means let alone the dwarf everybody else and show us a different matter but his own prayers his own Dua his own accountability to Allah  you know it's a great matter.

I guess one of the first and foremost things is to see if a scholar is there if a new bank does not have a scholar they don't have a scholar then that would mean you should do some kind of you know research yourself and look at the banking look at their products their services look at what they're offering you'll have to dig deep a bit to understand everything understands the mechanics in the back end and then you can proceed with using the services of a program.

Disclaimer  The following article is prepared by TAIF with the help of the video available on its YouTube Channel of TAIF. The editing of this article is done by a human after carefully reading and listening to the recorded program, in case of any mistakes and errors we apologize in advance, please write to us at contact@taiflearning.com