What is the ruling on borrowing from a bank if the bank requires taking a monthly installment from the salary until the end of repayment?
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Question:
This is a woman asking. She says: I am an employee, and I have an account in the bank, and I want to borrow from the bank to buy land. The bank has imposed on me the condition of taking a monthly installment from my salary until the end of repayment, and this is with interest. What is the ruling on that?
Answer:
This is haram (forbidden). This is riba (usury or interest), and I seek refuge in Allah. This is explicit riba. Banks do not avoid what Allah has forbidden; their concern is gathering worldly wealth, and they do not avoid it. In fact, they were not established except upon riba, and I seek refuge in Allah. Is it not permissible to deal with them in this manner? This is explicit riba. Yes.
This is a woman asking. She says: I am an employee, and I have an account in the bank, and I want to borrow from the bank to buy land. The bank has imposed on me the condition of taking a monthly installment from my salary until the end of repayment, and this is with interest. What is the ruling on that?
Answer:
This is haram (forbidden). This is riba (usury or interest), and I seek refuge in Allah. This is explicit riba. Banks do not avoid what Allah has forbidden; their concern is gathering worldly wealth, and they do not avoid it. In fact, they were not established except upon riba, and I seek refuge in Allah. Is it not permissible to deal with them in this manner? This is explicit riba. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم الاقتراض من البنك إذا اشترط البنك أن يأخذ قسطًا من الراتب شهريًّا حتى نهاية السداد؟ #فتاوى — youtube.com
The Arabic text is a machine transcription of the audio recording.