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.
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.
