Dialogue between the Shaykh and a student regarding the reality of usurious banks that usurp the name of Islam and claim that their transactions are Sharia-compliant.
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The questioner : I spoke with some employees of the Islamic bank about a sale within a sale, and I told them that according to what you mentioned today, when you buy a house for the poor person for fifteen thousand and buy a house for the rich person for ten thousand, do you think you served the poor person or harmed him with this installment plan? I said to him, this is not for the benefit of the people; this is for the harm of the people. The poor person buys for fifteen thousand and the rich person buys for ten, so did you harm the poor person or benefit him with this?
The Shaykh : ... Tell him, yes, you benefited the corrupt people.
The questioner : You deceived them.
The Shaykh : People like them.
The questioner : Yes.
The Shaykh : They benefited themselves.
The questioner : They benefited themselves.
The Shaykh : At the expense of the poor.
The questioner : They returned to being the ones who enriched themselves at the expense of the poor, and enriched the rich at the expense of the poor, because the rich person who put his money in the bank wants to take it from the back of the poor person, and they want to live off the back of the poor person, while the poor person wants to live.
The Shaykh : May Allah not make us like these people. Allah is the Greatest, Allah is the Greatest.
The questioner : There are many reasons, according to what they told you, of course, but now... some of their officials said that the transactions we deal in are the ones called murabahah, which we call murabaha, not like that. It is murabahah, Shaykh. They do not work in anything else now; most of their work is in this. What does it mean? It means that the profit is on the dry goods, whereas the method, which is the method of mudarabah, which they initially proposed, is like when some of our brothers once discussed buying a dairy factory, for example, and its machines. The output of these machines is half for the one who paid the money and half for the one who works in it. They abandoned it. Why? Because the factory sometimes works and sometimes does not work. So they said, we do not want this; it does not suffice us. So we want the method of murabahah, which they say is buying for ten and selling for fifteen.
The Shaykh : Murabaha.
The questioner : Ah, murabaha.
The Shaykh : They call it by a name other than its true name.
The questioner : There is no power or might except in Allah. It is a decree, and if it is for two years.
The Shaykh : ... Tell him, yes, you benefited the corrupt people.
The questioner : You deceived them.
The Shaykh : People like them.
The questioner : Yes.
The Shaykh : They benefited themselves.
The questioner : They benefited themselves.
The Shaykh : At the expense of the poor.
The questioner : They returned to being the ones who enriched themselves at the expense of the poor, and enriched the rich at the expense of the poor, because the rich person who put his money in the bank wants to take it from the back of the poor person, and they want to live off the back of the poor person, while the poor person wants to live.
The Shaykh : May Allah not make us like these people. Allah is the Greatest, Allah is the Greatest.
The questioner : There are many reasons, according to what they told you, of course, but now... some of their officials said that the transactions we deal in are the ones called murabahah, which we call murabaha, not like that. It is murabahah, Shaykh. They do not work in anything else now; most of their work is in this. What does it mean? It means that the profit is on the dry goods, whereas the method, which is the method of mudarabah, which they initially proposed, is like when some of our brothers once discussed buying a dairy factory, for example, and its machines. The output of these machines is half for the one who paid the money and half for the one who works in it. They abandoned it. Why? Because the factory sometimes works and sometimes does not work. So they said, we do not want this; it does not suffice us. So we want the method of murabahah, which they say is buying for ten and selling for fifteen.
The Shaykh : Murabaha.
The questioner : Ah, murabaha.
The Shaykh : They call it by a name other than its true name.
The questioner : There is no power or might except in Allah. It is a decree, and if it is for two years.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.