What is the reason for the prohibition of dealing with banks?
Machine translationRead the Arabic original
Question:
He says: What is the reason for the prohibition of dealing with banks?
Answer:
Not every bank is forbidden to deal with. Rather, it is the banks that deal in what is forbidden, such as riba (usury or interest), gambling, deception, gharar (excessive uncertainty in a contract), and ignorance. One does not deal with these. However, if the banks deal in permissible transactions that contain no riba, no gambling, and no ignorance or gharar, then there is nothing wrong with them. But I do not think there are any banks with this characteristic now, except for what is said about Islamic banks. Islamic banks claim that they do not deal in riba transactions and that they strive for good transactions. If this is true, then they are good banks.
He says: What is the reason for the prohibition of dealing with banks?
Answer:
Not every bank is forbidden to deal with. Rather, it is the banks that deal in what is forbidden, such as riba (usury or interest), gambling, deception, gharar (excessive uncertainty in a contract), and ignorance. One does not deal with these. However, if the banks deal in permissible transactions that contain no riba, no gambling, and no ignorance or gharar, then there is nothing wrong with them. But I do not think there are any banks with this characteristic now, except for what is said about Islamic banks. Islamic banks claim that they do not deal in riba transactions and that they strive for good transactions. If this is true, then they are good banks.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما وجه التحريم في التعامل مع البنوك؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.