KFH okays merger of Al-Ahli Bank Bahrain:

Arab Times - - LOCAL -

Kuwait Fi­nance House (KFH), which works ac­cord­ing to Is­lamic Sharia, has ap­proved the de­ci­sion to merge Al-Ahli United Bank of Bahrain, which owns tra­di­tional as­sets, in line with a fatwa (re­li­gious opin­ion), re­ports Al-Rai daily quot­ing in­formed sources.

They ex­plained that this fatwa is based on three Is­lamic prin­ci­ples. The first one is that un­avoid­able sit­u­a­tions could pave way for al­low­ing ac­tions that are pro­hib­ited by Is­lam. These sit­u­a­tions should be deemed as dire af­fect­ing the sur­vival of hu­man be­ings. There­fore, steps banned by Is­lam will re­main pro­hib­ited ex­cept dur­ing crit­i­cal cir­cum­stances when it is the mat­ter of life and death.

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