The ruling on banks selling goods they do not own
Machine translationRead the Arabic original
The questioner:
Honorable Shaykh, may Allah grant you success. A questioner says: Some banks sell goods to people, but they do not own them, and then they buy them afterwards. Is it permissible to deal in this way?
The Shaykh:
Some people.
The questioner:
Some banks sell goods to people, but they do not own them. Yes.
The Shaykh:
It is not permissible to sell something you do not own, whether by banks or by anyone else. A condition for the validity of a sale is that the seller owns the item being sold and that the buyer owns the price.
Honorable Shaykh, may Allah grant you success. A questioner says: Some banks sell goods to people, but they do not own them, and then they buy them afterwards. Is it permissible to deal in this way?
The Shaykh:
Some people.
The questioner:
Some banks sell goods to people, but they do not own them. Yes.
The Shaykh:
It is not permissible to sell something you do not own, whether by banks or by anyone else. A condition for the validity of a sale is that the seller owns the item being sold and that the buyer owns the price.
Source
شرح إغاثة اللهفان من مصائد الشيطان لابن القيم، فصل وإذا تدبرت الشريعة وجدتها قد أتت بسد الذرائع إلى المحرمات — islamhouse.com (57:58)
The Arabic text is a machine transcription of the audio recording.