Some banks treat depositors for free if their balance reaches one hundred thousand. Is it permissible to deposit with them if they are free from riba?
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The Shaykh : No, what is it? Jumu'ah is not made up if it is missed. The Sunnah is the midday prayer. The first question?
The questioner : The first question: One of the banking institutions says that if a person deposits one hundred thousand or more with them, his treatment will be free, and if it is more, his treatment and his wife's treatment, and so on, will be free. So...
The Shaykh : And if it is less?
The questioner : If it is less, it will not be free.
The Shaykh : So they do not guarantee his treatment.
The questioner : So they do not guarantee his treatment, if we assume that this institution is free from riba?
The Shaykh : Yes, this action is haram, haram from two aspects:
The first aspect is that it may lead some foolish people to borrow money to deposit in this institution, borrowing to ensure one hundred thousand so that they can deposit in the institution and have their treatment for free. This is harm to the people and to society, burdening them with debts. For this reason, we regret the facilitation of debts for people nowadays, because this leads the youth and non-youth to borrow for trivial or luxury matters. This is harm that will burden the shoulders of the youth and non-youth in borrowing, and they will be lenient in the matter. Then, when the event occurs, they appear bankrupt, and the companies that were lending to them also appear bankrupt. For this reason, we ask Allah, the Exalted, to guide the government to intervene in this matter and prevent borrowing except for the most extreme necessity. So, it is prohibited for this reason, because it is feared that a person will borrow one hundred thousand just to put it in this company to be treated for free. The second thing is if he has one hundred thousand and does not need to borrow and then puts it in, then there is no doubt that the company will benefit from this one hundred thousand, is that not so? It will benefit greatly. Perhaps a long period will pass in which this man did not get sick, and at that time the company will be what? Gaining and benefiting, while he did not benefit from anything. And perhaps Allah will decree many illnesses for him, consuming much money for the company, so the company will be losing. This is two.
Thirdly, I fear that this will weaken reliance upon Allah, the Mighty and Majestic, and that the person will say, "Praise be to Allah, now my illness is guaranteed to be cured because this company will provide the treatment," and his reliance will be on what? On the company, not on Allah, the Mighty and Majestic. And perhaps Allah, the Mighty and Majestic, will test him with many illnesses, because whoever attaches himself to something is referred to it. We ask Allah for safety. The second one, leave it, if Allah wills, perhaps the questions will be completed and we will return to the making up of missed prayers.
The questioner : The first question: One of the banking institutions says that if a person deposits one hundred thousand or more with them, his treatment will be free, and if it is more, his treatment and his wife's treatment, and so on, will be free. So...
The Shaykh : And if it is less?
The questioner : If it is less, it will not be free.
The Shaykh : So they do not guarantee his treatment.
The questioner : So they do not guarantee his treatment, if we assume that this institution is free from riba?
The Shaykh : Yes, this action is haram, haram from two aspects:
The first aspect is that it may lead some foolish people to borrow money to deposit in this institution, borrowing to ensure one hundred thousand so that they can deposit in the institution and have their treatment for free. This is harm to the people and to society, burdening them with debts. For this reason, we regret the facilitation of debts for people nowadays, because this leads the youth and non-youth to borrow for trivial or luxury matters. This is harm that will burden the shoulders of the youth and non-youth in borrowing, and they will be lenient in the matter. Then, when the event occurs, they appear bankrupt, and the companies that were lending to them also appear bankrupt. For this reason, we ask Allah, the Exalted, to guide the government to intervene in this matter and prevent borrowing except for the most extreme necessity. So, it is prohibited for this reason, because it is feared that a person will borrow one hundred thousand just to put it in this company to be treated for free. The second thing is if he has one hundred thousand and does not need to borrow and then puts it in, then there is no doubt that the company will benefit from this one hundred thousand, is that not so? It will benefit greatly. Perhaps a long period will pass in which this man did not get sick, and at that time the company will be what? Gaining and benefiting, while he did not benefit from anything. And perhaps Allah will decree many illnesses for him, consuming much money for the company, so the company will be losing. This is two.
Thirdly, I fear that this will weaken reliance upon Allah, the Mighty and Majestic, and that the person will say, "Praise be to Allah, now my illness is guaranteed to be cured because this company will provide the treatment," and his reliance will be on what? On the company, not on Allah, the Mighty and Majestic. And perhaps Allah, the Mighty and Majestic, will test him with many illnesses, because whoever attaches himself to something is referred to it. We ask Allah for safety. The second one, leave it, if Allah wills, perhaps the questions will be completed and we will return to the making up of missed prayers.