The Ruling on Participating in Investment Funds Affiliated with Riba-Based Banks
Machine translationRead the Arabic original
Question:
He says: Honorable Shaykh, may Allah grant you success, what is the ruling on participating in what are called investment funds affiliated with riba (usury or interest) banks?
Answer:
It is not permissible for you to be deceived by the names. The one who wants to invest should manage his money himself; he sells and buys in known goods: animals, real estate, land, houses, food, fabrics, cars, and tools. He sells and buys in them, and he does not look for a trustworthy person. A trustworthy person from those who sell and buy, and he gives him his money in the form of a mudarabah (profit-sharing partnership) for a share of the profit.
As for these riba-based institutions that are now deceiving people and naming some of their sections "Islamic." Well, what is the basis for this being Islamic and that being riba? It is not all for you. That means you deal in riba and you deal in Islam just to please people. If you hated riba, you would have abandoned it completely and made the entire bank Islamic. But if you leave a riba section and an Islamic section, that is deception of the people. Yes.
He says: Honorable Shaykh, may Allah grant you success, what is the ruling on participating in what are called investment funds affiliated with riba (usury or interest) banks?
Answer:
It is not permissible for you to be deceived by the names. The one who wants to invest should manage his money himself; he sells and buys in known goods: animals, real estate, land, houses, food, fabrics, cars, and tools. He sells and buys in them, and he does not look for a trustworthy person. A trustworthy person from those who sell and buy, and he gives him his money in the form of a mudarabah (profit-sharing partnership) for a share of the profit.
As for these riba-based institutions that are now deceiving people and naming some of their sections "Islamic." Well, what is the basis for this being Islamic and that being riba? It is not all for you. That means you deal in riba and you deal in Islam just to please people. If you hated riba, you would have abandoned it completely and made the entire bank Islamic. But if you leave a riba section and an Islamic section, that is deception of the people. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، [737 -1024] حكم المشاركة في صناديق الاستثمار التابعة للنبوك الربوية - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.
