Interjection by "Mashhur Hasan Salman" with "Abu Malik" regarding bank practices.

Mashhur: A loan of four percent for three years... he tells him that you will pay the amount you are taking over one year, so you owe seven percent of the principal amount, and over two years, fourteen percent. But their argument is that if they paid it all at once, the profit on the amount would remain fixed.
Abu Malik: No, I want to tell you something. These are, of course, a refuted argument, and they know that the person who comes to the bank does not come intending to pay the amount in one lump sum. They know this completely.
Mashhur: They oblige you before the purchase, before the contract.
Abu Malik: Yes, and the proof of this is that a soldier in the General Security Force told me: I borrowed three thousand dinars from the bank, and it came out to be one thousand eight hundred dinars!

The Shaykh : I seek refuge in Allah!
Abu Malik: By Allah, he said: It became four thousand eight hundred dinars. He said: I was shocked, but I was in a difficult situation. So one of my relatives came and said to me: O so-and-so, here are three thousand dinars, take them and give them to the bank to get out of this predicament you are in. He said: So I went and presented the three thousand dinars, and they said: This is not acceptable! The ink has dried and the pens have been lifted, absolutely not. Therefore, they refused to accept the three thousand dinars because they knew he would not come back. So this man’s relative truly wanted to save him, but they did not want to save him or help him. This is the greatest proof that the banks called Islamic banks are devoid of the true attribute of Islam by which they should deal in money.

Another questioner: Selling what one does not own in the first place.
Mashhur: I met with a deputy manager.
Abu Malik: No, leave the issue of selling what one does not own. I am telling you that the profit that the... is determined before they buy and go to the market. And then notice that they determine a percentage, a percentage they determine, which is not negotiable between you and me.

The Shaykh: Meaning, based on the rate of repayment, if it was delayed, it increased.
Abu Malik: Yes, that is right.

The Shaykh : ... .
Mashhur: Our Shaykh, they are now proposing an alternative, and this alternative is good to discuss so that we can have an opinion or reach an opinion for them. Most officials now admit that there is a violation in the Islamic bank regarding murabahah sales.
Abu Malik: The bank manager is a good and noble man, "Musa Shahada," and he mentioned this to me and said to me: We know that there is something wrong with the matter.
Mashhur: They have an alternative now; they are building in areas in the East... "Al-Qusaymah." They are building large buildings, and they will have warehouses and storage facilities, and they sell from them. So what is the reason for the prohibition and sin in such a transaction?
Abu Malik: ... Installment sales, and you know... it is the same issue. They got out of one trap and fell into two traps, or as the saying goes, they went from under the millstone to under the gutter. No, I wanted to comment on the words of the brother "Faraj" that this banking transaction in Islamic banks encouraged people to go to the other banks on the pretext that, by Allah, brother, this is halal. And since this is halal, then we go to the one with less, to get rid of the increase. Because the other banks take less interest on the money than the Islamic bank. Because you call it interest by its name, whereas the Islamic bank calls it profit, calls it profit from murabahah sales, and refuses to call it, by Allah, bank interest.

The questioner : ... .

The Shaykh : Allah is the Helper.