Non-Islamic commercial banks that issue loans with interest
Machine translationRead the Arabic original
The first question of Fatwa No. ( 21264 )
Q1: What is the religious opinion regarding non-Islamic commercial banks that issue loans with interest, and also pay interest on the amount deposited with them, knowing that they have fatwas from scholars stating that there is nothing wrong with it?
A1: The interest taken on loans, whether from banks or others, is forbidden riba by the consensus of the scholars, and there is no validity to the fatwa of anyone who issued it; because it contradicts the evidence from the Book and the Sunnah and the consensus of the scholars. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q1: What is the religious opinion regarding non-Islamic commercial banks that issue loans with interest, and also pay interest on the amount deposited with them, knowing that they have fatwas from scholars stating that there is nothing wrong with it?
A1: The interest taken on loans, whether from banks or others, is forbidden riba by the consensus of the scholars, and there is no validity to the fatwa of anyone who issued it; because it contradicts the evidence from the Book and the Sunnah and the consensus of the scholars. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.