Renting a bank safe
Machine translationRead the Arabic original
Fatwa number ( 5873 )
Q: We trade freely with the Brazilian people, and we have commercial stores. At the end of every day, we deposit our money in the bank and do not keep it with us for fear of theft. This money decreases in value from one day to the next against the dollar. For example, if I deposit 100,000 (cruzeiros) today, which is equivalent to 380 dollars, after a month the value of the 100,000 becomes 295 dollars. The reason is that the Brazilian currency falls due to the collapse of the general economy. So if I come after a month to take the 100,000, it is 100,000 in count, but the value is less than that, as I mentioned. And with the drop in the currency, goods in the markets rise. Now, if we take interest from the bank, it compensates for the loss, so the 100,000 becomes 110,000, and the interest is against the loss. What is your opinion? Answer us, may Allah reward you. Is this interest permissible from the bank? Knowing that the population of Brazil is Jews and Christians, and one in a thousand are Muslims. And is there riba between a Muslim and a disbeliever?
A: First: It is possible to rent a safe in the bank in which you place your money, your family's jewelry, and any contracts or bonds you need to keep, so that you do not enable the interest-based bank to exploit your money in what Allah the Exalted has forbidden. Second: Assuming that you placed your money in a current account in the bank out of fear for it from theft or the like, its purchasing power is not
subject only to decrease and drop, but it is subject to decrease and increase according to the law of supply and demand, and to the world market prices that are announced from time to time. If its purchasing power decreases in one time, it increases in another. And assuming the drop continues, you are a merchant, so it is easy for you to put your money in goods, and not have liquidity in your hand except a little according to need. And the goods are also subject to the law of supply and demand, rising and falling. This is the case with all properties and trades, and profit and loss follow it. In any case, what you mentioned is not considered a justification that permits you what Allah the Exalted has forbidden of riba. So fear Allah in all your affairs, and seek the lawful in your earnings. Allah the Exalted said:[At-Talaq 65:2-3]
Q: We trade freely with the Brazilian people, and we have commercial stores. At the end of every day, we deposit our money in the bank and do not keep it with us for fear of theft. This money decreases in value from one day to the next against the dollar. For example, if I deposit 100,000 (cruzeiros) today, which is equivalent to 380 dollars, after a month the value of the 100,000 becomes 295 dollars. The reason is that the Brazilian currency falls due to the collapse of the general economy. So if I come after a month to take the 100,000, it is 100,000 in count, but the value is less than that, as I mentioned. And with the drop in the currency, goods in the markets rise. Now, if we take interest from the bank, it compensates for the loss, so the 100,000 becomes 110,000, and the interest is against the loss. What is your opinion? Answer us, may Allah reward you. Is this interest permissible from the bank? Knowing that the population of Brazil is Jews and Christians, and one in a thousand are Muslims. And is there riba between a Muslim and a disbeliever?
A: First: It is possible to rent a safe in the bank in which you place your money, your family's jewelry, and any contracts or bonds you need to keep, so that you do not enable the interest-based bank to exploit your money in what Allah the Exalted has forbidden. Second: Assuming that you placed your money in a current account in the bank out of fear for it from theft or the like, its purchasing power is not
subject only to decrease and drop, but it is subject to decrease and increase according to the law of supply and demand, and to the world market prices that are announced from time to time. If its purchasing power decreases in one time, it increases in another. And assuming the drop continues, you are a merchant, so it is easy for you to put your money in goods, and not have liquidity in your hand except a little according to need. And the goods are also subject to the law of supply and demand, rising and falling. This is the case with all properties and trades, and profit and loss follow it. In any case, what you mentioned is not considered a justification that permits you what Allah the Exalted has forbidden of riba. So fear Allah in all your affairs, and seek the lawful in your earnings. Allah the Exalted said:
And whoever fears Allah - He will make for him a way out (3) And will provide for him from where he does not expect. And whoever relies upon Allah - then He is sufficient for him
وَمَنْ يَتَّقِ اللَّهَ يَجْعَلْ لَهُ مَخْرَجًا (2) وَيَرْزُقْهُ مِنْ حَيْثُ لاَ يَحْتَسِبُ وَمَنْ يَتَوَكَّلْ عَلَى اللَّهِ فَهُوَ حَسْبُهُ
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.