What is the ruling on dealing with the Islamic bank?
Machine translationRead the Arabic original
The questioner : Okay, if the debtor, for example, owes him one hundred dinars every month, and they agreed before the debtor travels that he would deposit the one hundred dinars into his account at the bank at the end of every month?
The Shaykh : May Allah preserve you. Yes?
The questioner : Is it permissible for him to travel?
The Shaykh : Yes, it is permissible for you; but this transaction is not permissible.
The questioner : Which transaction?
The Shaykh : Through the bank, I mean.
The questioner : If he is not present and needs to hand over the expenses.
The Shaykh : Hand it over through a trustworthy person, who receives the expenses from him—the one hundred dinars—and receives a receipt from him; in that case, he goes to perform 'Umrah and there is nothing wrong with it; but when I heard the word "bank," I am very afraid of it; because banks today deal in what is forbidden.
The questioner : Yes, we only do not deal in what is forbidden; I mean—for example—I go and deposit them in the bank in his name.
The Shaykh : That is the forbidden thing.
The questioner : I deposit them for him, I mean; he deals in what is forbidden and what is lawful, that is not my concern; I am only concerned with myself.
The Shaykh : And if he says he does it himself?
The questioner : How?
The Shaykh : If he says he does it himself, like you said, does that count as an excuse for him?
The questioner : Of course, there is no excuse for him!
The Shaykh : And of course, it is not an excuse for you, Professor!
The questioner : No, I am asking a question. About... his question.
The Shaykh : I know; but you spoke about yourself, you said: I do not deal with the bank, I just go and deposit.
The questioner : I am just giving an example.
The Shaykh : The example is not correct!
The questioner : Why is it not correct?
The Shaykh : Because it is not permissible to cooperate with the bank at all.
The questioner : It is not permissible.
The Shaykh : It is not permissible to cooperate with the bank at all.
The questioner : Okay, regarding the Islamic bank. They say that dealing with it is such that one takes, for example, goods from it, and takes a profit on them, and does not take anything called interest; for example, I want to buy a car from someone...
The Shaykh : I know, I know the example, do not tire yourself with it! Because they have talked about it so much that it has become worn out, worn out. My brother! They call it profit and call it murabahah. This is a form of deception regarding the prohibitions of Allah (Mighty and Majestic); the car whose price is, for example, five thousand, they calculate it as six thousand for you, why? The sixth thousand they call profit! Where did the profit come from?! Profit is for the merchant. The merchant is the one who profits, but he inserted himself as an intermediary, so that you do not pay, the bank pays five thousand for you and takes six thousand from you, and he neither sold nor bought, what does it mean to call it profit?!
The Shaykh : May Allah preserve you. Yes?
The questioner : Is it permissible for him to travel?
The Shaykh : Yes, it is permissible for you; but this transaction is not permissible.
The questioner : Which transaction?
The Shaykh : Through the bank, I mean.
The questioner : If he is not present and needs to hand over the expenses.
The Shaykh : Hand it over through a trustworthy person, who receives the expenses from him—the one hundred dinars—and receives a receipt from him; in that case, he goes to perform 'Umrah and there is nothing wrong with it; but when I heard the word "bank," I am very afraid of it; because banks today deal in what is forbidden.
The questioner : Yes, we only do not deal in what is forbidden; I mean—for example—I go and deposit them in the bank in his name.
The Shaykh : That is the forbidden thing.
The questioner : I deposit them for him, I mean; he deals in what is forbidden and what is lawful, that is not my concern; I am only concerned with myself.
The Shaykh : And if he says he does it himself?
The questioner : How?
The Shaykh : If he says he does it himself, like you said, does that count as an excuse for him?
The questioner : Of course, there is no excuse for him!
The Shaykh : And of course, it is not an excuse for you, Professor!
The questioner : No, I am asking a question. About... his question.
The Shaykh : I know; but you spoke about yourself, you said: I do not deal with the bank, I just go and deposit.
The questioner : I am just giving an example.
The Shaykh : The example is not correct!
The questioner : Why is it not correct?
The Shaykh : Because it is not permissible to cooperate with the bank at all.
The questioner : It is not permissible.
The Shaykh : It is not permissible to cooperate with the bank at all.
The questioner : Okay, regarding the Islamic bank. They say that dealing with it is such that one takes, for example, goods from it, and takes a profit on them, and does not take anything called interest; for example, I want to buy a car from someone...
The Shaykh : I know, I know the example, do not tire yourself with it! Because they have talked about it so much that it has become worn out, worn out. My brother! They call it profit and call it murabahah. This is a form of deception regarding the prohibitions of Allah (Mighty and Majestic); the car whose price is, for example, five thousand, they calculate it as six thousand for you, why? The sixth thousand they call profit! Where did the profit come from?! Profit is for the merchant. The merchant is the one who profits, but he inserted himself as an intermediary, so that you do not pay, the bank pays five thousand for you and takes six thousand from you, and he neither sold nor bought, what does it mean to call it profit?!
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.