[Slightofhand]

> One question that no one is able to answer me, how does doing business, investing time and skill earn you "profit" while spending that same time and skill in investing your money and getting rewards is called "interest" and that gets shot down?

The difference is profit/loss guarantee. If as OP said you invest your money, you are bound by risk of either losing your money or making a profit. On the other hand, your money sitting on the bank account earning interest while you are not at risk of losing, but only of profiting is considered haram.

[2Gkashmiri]

do you know about the 2008 crash? the foreclosures? the banks folding? the peoples deposits vanishing? in india, the law is clear on this. if you have any amount in a bank as savings or deposits or whatever and the bank folds, you are only insured up to Rs. 100k or us$ 1300. although that limit is being revised to 5 times. still.

https://www.livemint.com/news/india/just-how-safe-is-your-ba... https://www.telegraphindia.com/india/pmc-bank-crisis-money-s...

please tell me how do you see this as "only of profiting is considered haram"?

I wrote in the earlier comment, unless you have done work with banks, eveyone says there is 0 risk to lender but that is just false. why does the word foreclosure exists with banks? and debt collectors? the premise of halal banking is wrong. write it as shariah compliant banking and i will be happier, i will still NOT work with it though because it is just sneaky.

look dude, i am a professional who has to work with businesses as his day job and been doing that for years. let me tell you unless there is some tragedy or accident, a business is guaranteed to earn profits. its not speculation that you dont know if you will flip your money 2x or loose it all. that is gambling. real businesses is pushing profits up day in and out.

[adityapurwa]

Halal is just another word for sharia compliant. If it is against islamic law (sharia), then it is not halal (haram). Halal certification is a different thing.

When you deposits money, bank might offer you annual interest of 1%. No matter what happened, whether the bank is at loss or not, you get the 1%. This is riba. If the purpose of the deposits is to be used as investment, then it must be clear from the beginning and there would be risk of loss.

When bank lend money to a person, bank asked for an interest of say 5%, bank does not care if the person is profiting or not, they will get their additional 5%. This is riba. Lending in islam is a social activity and no profits should occur from it. Would there be risk for lender? Yes. Would it means they can profits from it? In Islam, No.

I am not confident with the premise that you said a business is guaranteed to earn profits. I’ve seen business rise and fall, pre covid and after covid. I’ve started some of my own business and some got profitable and some doesn’t, some were profitable in the beginning, some started to see declines.

I don’t understand what is sneaky about sharia law for banking, it prevents anyone from being unfair and that anyone know the risk from a transaction, and that no one should profits from their partner loss and that loan shall not be profitable.