What is the ruling on bank interest?
Machine translationRead the Arabic original
Question:
He says: What is your view, Honorable Shaykh, on bank interest?
Answer:
This is clear. Bank interest, which is riba (usury or interest) investment, is forbidden. It is forbidden unless the banks use the lawful methods of buying, selling, and lawful investment, in which case there is no harm in that. However, do not trust them; the banks are not to be trusted because their economy and dealings are built upon riba and riba-based methods. Even if they say that we invest in what is lawful, they are not to be trusted.
He says: What is your view, Honorable Shaykh, on bank interest?
Answer:
This is clear. Bank interest, which is riba (usury or interest) investment, is forbidden. It is forbidden unless the banks use the lawful methods of buying, selling, and lawful investment, in which case there is no harm in that. However, do not trust them; the banks are not to be trusted because their economy and dealings are built upon riba and riba-based methods. Even if they say that we invest in what is lawful, they are not to be trusted.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم فوائد البنوك؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.