Dealing with the Silver and Gold Cards
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Fatwa No. ( 17289 )
Q: We submit to your Eminence the enclosed question that reached us from the brothers working in the religious affairs department at the air base in Tabuk . They desire your Eminence to answer it, as much discussion has taken place regarding it, and many people have adopted it, so that the fatwa may resolve many of the difficulties. The text of the question is: What is the ruling on what is called the Gold Card and the Silver Card? These are sold by banks to citizens, even if they do not have accounts with them. The benefit for the citizen is that he can borrow a sum of money from the bank that sold him the card, on the condition that he repays this amount within forty days of the date of the loan. If he delays beyond this period, the bank takes a small percentage for the delay, and the longer the delay, the higher the percentage. Some people buy more than one card; they take from this bank, and before the end of the period when the increase becomes due, they take from the other bank and pay this bank, and so on, so that they do not have to pay this percentage. What is your Eminence’s opinion on these two matters?
A : The Silver or Gold Card, under the conditions mentioned, is a card involving riba (usury or interest). It is not permissible to issue it or to deal with it, because it includes a loan that yields benefit, and this is forbidden riba. Dealing with it is cooperation in sin and transgression.
Q: We submit to your Eminence the enclosed question that reached us from the brothers working in the religious affairs department at the air base in Tabuk . They desire your Eminence to answer it, as much discussion has taken place regarding it, and many people have adopted it, so that the fatwa may resolve many of the difficulties. The text of the question is: What is the ruling on what is called the Gold Card and the Silver Card? These are sold by banks to citizens, even if they do not have accounts with them. The benefit for the citizen is that he can borrow a sum of money from the bank that sold him the card, on the condition that he repays this amount within forty days of the date of the loan. If he delays beyond this period, the bank takes a small percentage for the delay, and the longer the delay, the higher the percentage. Some people buy more than one card; they take from this bank, and before the end of the period when the increase becomes due, they take from the other bank and pay this bank, and so on, so that they do not have to pay this percentage. What is your Eminence’s opinion on these two matters?
A : The Silver or Gold Card, under the conditions mentioned, is a card involving riba (usury or interest). It is not permissible to issue it or to deal with it, because it includes a loan that yields benefit, and this is forbidden riba. Dealing with it is cooperation in sin and transgression.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.