What is the ruling on the loan from the National Bank called Taysir?
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Question:
He says: I am a young man about to get married and I need money. I have heard about Taysir from the National Bank through tawarruq, which involves buying and selling certain metals. What is the ruling on taking from the National Bank’s Taysir?
Answer:
Tawarruq means that you go to the merchant, or the company, or the bank, and you buy from them an existing commodity, you see it, then you take possession of it and remove it from the seller’s place, and you sell it in the market or elsewhere and benefit from its price. This is the meaning of tawarruq. As for saying it is iron in Bahrain, or iron in America, or metals in such-and-such a place, that is a lie and deception, and it is a sale of an absent item. This is a sale of an absent item that has not been taken possession of, and it is not permissible. Yes.
He says: I am a young man about to get married and I need money. I have heard about Taysir from the National Bank through tawarruq, which involves buying and selling certain metals. What is the ruling on taking from the National Bank’s Taysir?
Answer:
Tawarruq means that you go to the merchant, or the company, or the bank, and you buy from them an existing commodity, you see it, then you take possession of it and remove it from the seller’s place, and you sell it in the market or elsewhere and benefit from its price. This is the meaning of tawarruq. As for saying it is iron in Bahrain, or iron in America, or metals in such-and-such a place, that is a lie and deception, and it is a sale of an absent item. This is a sale of an absent item that has not been taken possession of, and it is not permissible. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم قرض البنك الأهلي المسمى بالتيسير؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.