The Ruling on Subscribing to Interest-Based Banks
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Question:
Shaykh, I have a question. I want to ask about a subscription in the National Bank.
Answer:
My brother, a fatwa has been issued by the Permanent Committee stating that it is not permissible, it is not permissible to subscribe to riba (usury or interest) banks, nor to riba companies, nor to riba institutions; it is not permissible to subscribe to them because they are haram (forbidden). The Prophet (peace and blessings be upon him) has cursedSahih Muslim 1598, and the Qur'an [Al-Baqarah 2:275]. So is riba haram and one of the major sins?
Whoever denies its prohibition is a disbeliever, and whoever consumes it while not denying its prohibition is a sinner against Allah the Exalted, committing one of the major sins. Yes.
The presenter:
May Allah reward you.
Shaykh, I have a question. I want to ask about a subscription in the National Bank.
Answer:
My brother, a fatwa has been issued by the Permanent Committee stating that it is not permissible, it is not permissible to subscribe to riba (usury or interest) banks, nor to riba companies, nor to riba institutions; it is not permissible to subscribe to them because they are haram (forbidden). The Prophet (peace and blessings be upon him) has cursed
the accepter of interest and its payer, and one who records it, and the two witnesses
آكل الربا وموكله وكاتبه وشاهديهThose who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allah has permitted trade and has forbidden interest.
الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَٰلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَاWhoever denies its prohibition is a disbeliever, and whoever consumes it while not denying its prohibition is a sinner against Allah the Exalted, committing one of the major sins. Yes.
The presenter:
May Allah reward you.
Source
فتاوى على الهواء 05-01-1436هـ — alfawzan.live (26:41)
The Arabic text is a machine transcription of the audio recording.