SHARIAsource

This fatwa states that interest-bearing interbank investment certificates are contrary to shari'a. Investment certificates based on a Mudharabah agreement (Sertifikat Investasi Mudharabah Antarbank - Interbank Mudharabah Investment Certificate), however, are not. An Interbank Mudharabah Investment Certificate may only change hands once after it has been purchased. Interbank Mudharabah Investment Certificate transactors may be:

1. shari'a banks as lenders and borrowers; and
2. conventional banks as lenders.