The banks utilizing depositors' funds without any profit for them
Machine translationRead the Arabic original
The questioner:
Honorable Shaykh, may Allah make you truthful, what is your opinion regarding banks that utilize the funds of depositors with them in trade, and the depositor receives no profit from that?
The Shaykh:
It is not permissible for them to utilize them, as they are deposits. Deposits are to be preserved; the depositor preserves the money and does not dispose of it. This disposal by the banks is invalid and not permissible. They took them as deposits, trusts in their possession to be preserved only, so how can they dispose of them? Yes.
The questioner:
Or the camera.
The Shaykh:
It was obligatory for them to say, "We are not responsible for people's money, and we are not taking it into our custody, bearing its responsibility for free." We say, yes, ask for a fee, ask for a fee for preserving these deposits; that is not contrary to the rules. But that you utilize it without the permission of its owners and expose it to danger and loss, that is not permissible. Yes.
Honorable Shaykh, may Allah make you truthful, what is your opinion regarding banks that utilize the funds of depositors with them in trade, and the depositor receives no profit from that?
The Shaykh:
It is not permissible for them to utilize them, as they are deposits. Deposits are to be preserved; the depositor preserves the money and does not dispose of it. This disposal by the banks is invalid and not permissible. They took them as deposits, trusts in their possession to be preserved only, so how can they dispose of them? Yes.
The questioner:
Or the camera.
The Shaykh:
It was obligatory for them to say, "We are not responsible for people's money, and we are not taking it into our custody, bearing its responsibility for free." We say, yes, ask for a fee, ask for a fee for preserving these deposits; that is not contrary to the rules. But that you utilize it without the permission of its owners and expose it to danger and loss, that is not permissible. Yes.
Source
شرح بلوغ المرام من أدلة الأحكام [ صالح الفوزان ]، باب الشفعة — islamhouse.com (57:12)
The Arabic text is a machine transcription of the audio recording.