Dealing with Islamic banks branching from usurious banks


373

Q 6: Some banks have Islamic branches; however, (Part No. 13; Page No. 375) the head office deals in Riba (usury/interest). What is the ruling on dealing with the branch?


A: There is no wrong to deal with the bank whether it is a branch or a head office as long as the dealing is not based on Riba. Allah (Glorified be He) makes trade lawful and forbids Riba. The basic principle of transactions is the permissibility of dealing with banks as long as the transaction is not based on something that is Haram (prohibited). May Allah grant us success. May peace and blessings of Allah be upon our Prophet Muhammad, his family and Companions!




Tags: