Is it permissible to purchase an item from a bank and then appoint the bank as its agent to sell it?
Machine translationRead the Arabic original
Question:
He says: Honorable Shaykh, may Allah grant you success. A man purchased air conditioners from one of the banks on credit for a sum of eighty-nine thousand. On the same contract document, there is a section for appointing the bank as an agent to sell them.
Answer:
These are ruses they employ for riba (usury or interest). One does not appoint them as agents. He takes possession of the air conditioners, transports them from their location to another location, and sells them to others. He sells them to others, and it does not become an 'inah (a buy-back sale used to disguise a loan). This is the issue of 'inah. Yes.
He says: Honorable Shaykh, may Allah grant you success. A man purchased air conditioners from one of the banks on credit for a sum of eighty-nine thousand. On the same contract document, there is a section for appointing the bank as an agent to sell them.
Answer:
These are ruses they employ for riba (usury or interest). One does not appoint them as agents. He takes possession of the air conditioners, transports them from their location to another location, and sells them to others. He sells them to others, and it does not become an 'inah (a buy-back sale used to disguise a loan). This is the issue of 'inah. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، [2918- 4717] هل يجوز شراء سلعة من البنك ثم توكيل البنك ببيعها؟ - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.