Investing in the American Saudi Bank
Machine translationRead the Arabic original
Fatwa No. ( 3134 )
Q: Please inform us, may Allah increase you in knowledge, about the ruling on investing in the American Saudi Bank . Is it riba (usury or interest)? Since, as we know, it deals in riba and is founded upon riba.
A: The American Saudi Bank and other banks, if they are founded upon riba (usury or interest) and deal in riba, then investing in them is not permissible; because this is cooperation in sin and aggression, and Allah the Exalted has forbidden it in His saying:[Al-Ma'idah 5:2].
Q: Please inform us, may Allah increase you in knowledge, about the ruling on investing in the American Saudi Bank . Is it riba (usury or interest)? Since, as we know, it deals in riba and is founded upon riba.
A: The American Saudi Bank and other banks, if they are founded upon riba (usury or interest) and deal in riba, then investing in them is not permissible; because this is cooperation in sin and aggression, and Allah the Exalted has forbidden it in His saying:
but do not cooperate in sin and aggression
وَلاَ تَعَاوَنُوا عَلَى الإِثْمِ وَالْعُدْوَانِ
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.