A man deposited his money in the bank as a trust, and the bank traded with it without his permission. Is that permissible for them? And are they obligated to share the profit with the owner of the money?
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The questioner : A man deposited money with an Islamic bank, and they used it for trade without the owner's permission, and they did not give him any of its profit. Is that permissible for them?
The Shaykh : That is, the bank, is it permissible for them to do that?
The questioner : Yes, is that not so?
The Shaykh : He deposited it as what? A trust?
The questioner : Yes, that is right.
The Shaykh : So the bank came and used it?
The questioner: Yes.
The Shaykh : Without the permission of its owner?
The questioner: Yes.
The Shaykh : Of course, this is not permissible, and at the very least, they must share the profit with him, and they must not share the loss with him if he incurs a loss, because if he incurs a loss, it is because he acted without his permission. So one might say: Why, then, should they share the profit with him? Because before us is the hadith of the three men in the cave, and you all know that. Considering that time is very limited, I will leave it to your account, not mine, but I will remind you of the end of the hadith, which is the point of reference. That man who worked for that wealthy man for a wage he specified—and it was a *farq* of rice—the Messenger (peace and blessings be upon him) said:, *farq* meaning: to measure out or to weigh, as is known. He said: , meaning after years, . So the Islamic bank—considering that it is an Islamic bank—must embody this character.
The Shaykh : That is, the bank, is it permissible for them to do that?
The questioner : Yes, is that not so?
The Shaykh : He deposited it as what? A trust?
The questioner : Yes, that is right.
The Shaykh : So the bank came and used it?
The questioner: Yes.
The Shaykh : Without the permission of its owner?
The questioner: Yes.
The Shaykh : Of course, this is not permissible, and at the very least, they must share the profit with him, and they must not share the loss with him if he incurs a loss, because if he incurs a loss, it is because he acted without his permission. So one might say: Why, then, should they share the profit with him? Because before us is the hadith of the three men in the cave, and you all know that. Considering that time is very limited, I will leave it to your account, not mine, but I will remind you of the end of the hadith, which is the point of reference. That man who worked for that wealthy man for a wage he specified—and it was a *farq* of rice—the Messenger (peace and blessings be upon him) said:
When he finished his work, he offered him his *farq*, but he refused it.
فلما قضى عمله , عرض عليه فرقه فرغب عنهThen he came to him.
ثم جاءهHe said: "O servant of Allah, fear Allah and give me my right." He said: "Look at those cows and sheep, go and take them." He said: "O servant of Allah, fear Allah and do not mock me; I only have a *farq* of rice with you!" He said: "Go and take them, for those cows are from that *farq*."
قال : يا عبد الله اتق الله و أعطني حقي , قال انظر إلى تلك البقر و الغنم اذهب و خذها , قال يا عبد الله اتق الله ولا تهزأ بي إنما لي عندك فرق من أرز ! قال اذهب و خذها فإنما تلك البقر من ذاك الفرق
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.