Personal loans from banks
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Question:
Personal loans from banks?
Answer:
Answer: Personal loans that carry interest are riba (usury or interest) and are not permissible. Question: ………… You take aluminum in exchange and authorize us to sell it? Answer: No. If you buy goods from the bank, take possession of them, move them from the bank, and sell them elsewhere, and you do not authorize the seller—neither the bank nor anyone else—to sell them on your behalf; because this is a stratagem, and there may be no goods involved and nothing at all. This is a matter of stratagem. However, if you take possession of them, move them, and sell them to someone else, then it becomes clear that it is a reality and not a stratagem.
Personal loans from banks?
Answer:
Answer: Personal loans that carry interest are riba (usury or interest) and are not permissible. Question: ………… You take aluminum in exchange and authorize us to sell it? Answer: No. If you buy goods from the bank, take possession of them, move them from the bank, and sell them elsewhere, and you do not authorize the seller—neither the bank nor anyone else—to sell them on your behalf; because this is a stratagem, and there may be no goods involved and nothing at all. This is a matter of stratagem. However, if you take possession of them, move them, and sell them to someone else, then it becomes clear that it is a reality and not a stratagem.
Source
www.alfawzan.af.org.sa
The Arabic text is copied verbatim from the original source, without any edits.