The Ruling on Deposit Certificates with Variable Interest
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What is the ruling on what is called deposit certificates with variable interest, and their form is: that one deposits certificates in one of these banks for a specific amount for a period of two years, during which the bank pays an unspecified return upon the issuance of these certificates, and that is every three months, knowing that the depositor can redeem the value of these certificates at any time?
I had not considered this issue,But in any case, if he says: Give me dirhams and this is a debt on me, and then after a period you give me dirhams, whether specified or unspecified, so we do not trust the banks. Perhaps they specify the interest, or what they call interest, and we do not see it as interest; we see it as a loss.But they specify, for example, they say: Give me one hundred thousand and give me one hundred and ten thousand after a year,Or he says: Give me one hundred thousand and give me an unspecified increase.
We do not know if this is true, that he sold and traded with these dirhams until he profited, and that it is a year of profit and a year of no profit, or that he deposited them in a fund and began to engage in usury and play with them regarding people, sometimes saying: he gives them (5%) and sometimes (10%) and sometimes saying: I will not give you anything because the money did not profit. We do not know, so this depends on our trust in the bank and its handling.
I had not considered this issue,But in any case, if he says: Give me dirhams and this is a debt on me, and then after a period you give me dirhams, whether specified or unspecified, so we do not trust the banks. Perhaps they specify the interest, or what they call interest, and we do not see it as interest; we see it as a loss.But they specify, for example, they say: Give me one hundred thousand and give me one hundred and ten thousand after a year,Or he says: Give me one hundred thousand and give me an unspecified increase.
We do not know if this is true, that he sold and traded with these dirhams until he profited, and that it is a year of profit and a year of no profit, or that he deposited them in a fund and began to engage in usury and play with them regarding people, sometimes saying: he gives them (5%) and sometimes (10%) and sometimes saying: I will not give you anything because the money did not profit. We do not know, so this depends on our trust in the bank and its handling.