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﴿ فَاسْأَلُوا أَهْلَ الذِّكْرِ إِن كُنتُمْ لَا تَعْلَمُونَ ﴾

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The banks' claim of dealing in Islamic transactions

Machine translationRead the Arabic original
Question:
And the issue of your brother, Shaykh Abu Murrah, is that some banks declare that they deal with depositors' funds in Islamic mudarabah (profit-sharing partnership) transactions. However, the central bank intervenes with the maximum rate of interest that these banks give. By this, it means that the central bank informs these banks of a deadline to increase the interest to, for example, twelve percent in this month. What is the ruling on that?

Answer:
It is not known about the banks that they deal in Islamic transactions. This is a lie. It is not known about the banks in the entire world that they deal in Islamic transactions. Rather, this is a cover-up and a lie, and it is not permissible. Yes.
Source قناة «العلامة الدكتور صالح الفوزان»، 31 من 89|شرح العدة في شرح العمدة|الإجارة|باب الشفعة|صالح الفوزان|الفقه|كبار العلماء — youtube.com (1:16:30)

The Arabic text is a machine transcription of the audio recording.

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