The interest that banks take from borrowers
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Fatwa number ( 3197 )
Q: What is the ruling on the increase that banks take ? There has been disagreement among us in Africa.
A: The interest that banks take from borrowers, and the interest they pay to depositors, this interest is `riba` (usury or interest), the prohibition of which is established by the Qur'an, the Sunnah, and scholarly consensus.
Q: What is the ruling on the increase that banks take ? There has been disagreement among us in Africa.
A: The interest that banks take from borrowers, and the interest they pay to depositors, this interest is `riba` (usury or interest), the prohibition of which is established by the Qur'an, the Sunnah, and scholarly consensus.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.