The ruling on borrowing from a bank to buy a car
Machine translationRead the Arabic original
Question:
He says: What is the ruling on one who takes a loan from one of the banks, whether for cars or shares, knowing that the bank does not own that commodity until after it obtains a guarantee from the borrower?
Answer:
This is not permissible. He sells a car while he does not own it, and then goes to buy it. The Messenger (peace and blessings be upon him) said:Sunan Ibn Majah 2187Hasan (Darussalam) So it is a condition that the seller must own the item being sold before the contract. The seller must own the item being sold before the contract, otherwise the sale is not valid. Yes.
He says: What is the ruling on one who takes a loan from one of the banks, whether for cars or shares, knowing that the bank does not own that commodity until after it obtains a guarantee from the borrower?
Answer:
This is not permissible. He sells a car while he does not own it, and then goes to buy it. The Messenger (peace and blessings be upon him) said:
Do not sell what is not with you.
لا تبع ما ليس عندك
Source
قناة «العلامة الدكتور صالح الفوزان»، محاضرات في العقيدة والدعوة-016-الإيمان حقيقته أركانه شعبه ثمراته|صالح الفوزان|كبار العلماء — youtube.com (1:16:29)
The Arabic text is a machine transcription of the audio recording.