The ruling on banks misleading people by offering benefits if a person's balance exceeds a certain amount
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One of the banking institutions has established a policy: if your balance is, for example, one hundred thousand, your medical treatment is free; if it is more, your treatment and your wife's treatment are free, and so on. So, if we assume that this institution is free from riba (usury or interest), is it permissible to deposit money in it?
This action is forbidden from two aspects: The first aspect: Some foolish people may resort to borrowing money to deposit in this institution. They borrow what amounts to one hundred thousand in order to deposit it in this institution so that their treatment will be free. This is gharar (excessive uncertainty in a contract) for the people and the society, as it burdens them with debts. Therefore, we regret the current facilitation of loans for people, because this leads young and old alike to borrow for trivial or luxury matters. This is a harm that will burden the shoulders of the young and the old with debt. They take the matter lightly, and then when the crisis hits, they appear bankrupt, and the company that was lending to them also appears bankrupt. Therefore, we ask Allah the Exalted to guide the government to intervene in this matter and prohibit borrowing except for dire necessity.
The second aspect: If a person has one hundred thousand and does not need to borrow it, and then he deposits it, there is no doubt that the company will benefit greatly from this one hundred thousand. Perhaps a long time will pass without this man getting sick, and in that case, the company will be the gainer and the beneficiary, while he has not benefited at all. Or perhaps Allah decrees upon him many illnesses that consume a lot of money for the company, in which case the company will be at a loss.
The third reason: I fear that this weakens tawakkul (reliance upon Allah) in Allah Mighty and Majestic.And that a person says: Praise be to Allah, my illness is guaranteed to be cured, because this company will provide the treatment. His reliance will be on the company rather than on Allah Mighty and Majestic. And perhaps Allah Mighty and Majestic will test him with many illnesses, because whoever attaches himself to something is entrusted to it.
This action is forbidden from two aspects: The first aspect: Some foolish people may resort to borrowing money to deposit in this institution. They borrow what amounts to one hundred thousand in order to deposit it in this institution so that their treatment will be free. This is gharar (excessive uncertainty in a contract) for the people and the society, as it burdens them with debts. Therefore, we regret the current facilitation of loans for people, because this leads young and old alike to borrow for trivial or luxury matters. This is a harm that will burden the shoulders of the young and the old with debt. They take the matter lightly, and then when the crisis hits, they appear bankrupt, and the company that was lending to them also appears bankrupt. Therefore, we ask Allah the Exalted to guide the government to intervene in this matter and prohibit borrowing except for dire necessity.
The second aspect: If a person has one hundred thousand and does not need to borrow it, and then he deposits it, there is no doubt that the company will benefit greatly from this one hundred thousand. Perhaps a long time will pass without this man getting sick, and in that case, the company will be the gainer and the beneficiary, while he has not benefited at all. Or perhaps Allah decrees upon him many illnesses that consume a lot of money for the company, in which case the company will be at a loss.
The third reason: I fear that this weakens tawakkul (reliance upon Allah) in Allah Mighty and Majestic.And that a person says: Praise be to Allah, my illness is guaranteed to be cured, because this company will provide the treatment. His reliance will be on the company rather than on Allah Mighty and Majestic. And perhaps Allah Mighty and Majestic will test him with many illnesses, because whoever attaches himself to something is entrusted to it.