The ruling on financing from an Islamic bank through stocks
Machine translationRead the Arabic original
Question:
Salih, may Allah preserve you. The listener Muhammad, who resides in Saudi Arabia, has a question. He says: What is the ruling on taking financing from an Islamic bank through stocks that the bank sells to me with interest, and then I sell them again to obtain the money? Knowing that the intention is to obtain the money, not the stocks, is this a type of circumventing riba (usury or interest), or is it permissible? Please inform us, may Allah bless you.
Answer:
We do not know these stocks; you have not specified what they are, so we are unable to answer a question that is unknown. Yes.
The presenter:
May Allah reward you, Your Eminence the Shaykh
Salih, may Allah preserve you. The listener Muhammad, who resides in Saudi Arabia, has a question. He says: What is the ruling on taking financing from an Islamic bank through stocks that the bank sells to me with interest, and then I sell them again to obtain the money? Knowing that the intention is to obtain the money, not the stocks, is this a type of circumventing riba (usury or interest), or is it permissible? Please inform us, may Allah bless you.
Answer:
We do not know these stocks; you have not specified what they are, so we are unable to answer a question that is unknown. Yes.
The presenter:
May Allah reward you, Your Eminence the Shaykh
Source
قناة «إذاعة القرآن الكريم»، نور على الدرب مع معالي الشيخ صالح الفوزان ح7497 — youtube.com (7:08)
The Arabic text is a machine transcription of the audio recording.