Is it correct to say that riba (usury or interest) profits are permissible on the grounds that they are a representation of the bank managing the money in which it invests?
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Question:
He says: A Muslim scholar issued a fatwa (a scholarly legal ruling) permitting bank interest, stating that the bank takes money from the client and acts as his agent in managing it and entering into large projects that yield profit for both him and the bank. Is this permissible?
Answer:
Yes, some of them have issued a fatwa permitting riba profits, but the Messenger (peace and blessings be upon him) cursed the one who consumes riba, the one who gives it, its two witnesses, and its scribe. And Allah (Exalted and Majestic is He) says:[Al-Baqarah 2:278-279] Let him issue his fatwa as he wishes, but the promise before him is with Allah (Glorified and Exalted is He).
He says: A Muslim scholar issued a fatwa (a scholarly legal ruling) permitting bank interest, stating that the bank takes money from the client and acts as his agent in managing it and entering into large projects that yield profit for both him and the bank. Is this permissible?
Answer:
Yes, some of them have issued a fatwa permitting riba profits, but the Messenger (peace and blessings be upon him) cursed the one who consumes riba, the one who gives it, its two witnesses, and its scribe. And Allah (Exalted and Majestic is He) says:
(278) O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers. (279) And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged.
يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِن كُنتُم مُّؤْمِنِينَ فَإِن لَّمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِّنَ اللَّهِ وَرَسُولِهِ وَإِن تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَالِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَ
Source
قناة «العلامة الدكتور صالح الفوزان»، هل صحيح القول بجواز الفوائد الربوية على اعتبار أنها نيابة للبنك عن المال يستثمر فيه؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.