The Ruling on Taking a Bank Loan to Purchase Bags of Rice Through Agency

Question:
The questioner says: I took a loan from one of the banks, which consisted of a set of bags of rice worth three hundred thousand. The bank said the goods are available and you have the choice. He says: So I appointed them as my agent through them, and the amount was deposited into my account.

Answer:
This is not permissible; appointing them is not permissible. If you buy the commodity for a deferred price, you must transfer it from the seller's permanent location to another place and sell it to someone else, and the seller must have no connection to it whatsoever, neither agency nor anything else. Because they resort to deception and lie, saying, "We have appointed an agent; we have iron in Germany, or in..." You do not see it, but they say they have appointed an agent. This is a lie; they have no iron and they have nothing. Also, even if they had iron in Germany, it would not be permissible. The buyer's presence is required, and the buyer must see it, and he must take possession of it. This is not a matter of play.