The issue of tawarruq from the bank
Machine translationRead the Arabic original
Question:
A questioner says: I requested a loan from the bank, and the employee told me that the bank provides goods, and I either sell them myself or authorize the bank to sell them, and then I repay.
Answer:
This is not a loan; this is the issue of tawarruq. In tawarruq, you buy goods from a merchant or from the bank, you take possession of them, you sell them, and you fulfill your need with the price. Then, when the term arrives, you pay the bank or the merchant. There is no harm in that. This is the issue they call al-daynah or al-gha'ibah, and the jurists call it the issue of tawarruq. Yes.
The presenter:
May Allah reward you, Honorable Shaykh,
A questioner says: I requested a loan from the bank, and the employee told me that the bank provides goods, and I either sell them myself or authorize the bank to sell them, and then I repay.
Answer:
This is not a loan; this is the issue of tawarruq. In tawarruq, you buy goods from a merchant or from the bank, you take possession of them, you sell them, and you fulfill your need with the price. Then, when the term arrives, you pay the bank or the merchant. There is no harm in that. This is the issue they call al-daynah or al-gha'ibah, and the jurists call it the issue of tawarruq. Yes.
The presenter:
May Allah reward you, Honorable Shaykh,
Source
شرح العقيدة الواسطية، العقيدة الواسطية 16-01-1438هـ — alfawzan.live (1:09:20)
The Arabic text is a machine transcription of the audio recording.