Q 2: My brothers and I do business with
Japan.
We deposit our money in a bank to be sent to
Japanese
merchants, who demand
a reliable source of payment. The bank represents this source and this method is known as "credit". Is it permissible to deal with the bank in the said manner? Note that we do not take interest on our money; in it is impermissible, is there any other lawful way or should we quit this business?
(Part No. 13; Page No. 372
A:
It is not permissible to deposit money in Riba-based banks (banks dealing in usury and interest). As for
bank transfers, if the other party requests this and there is no other way except through a Riba-based bank, it is permissible to remit money through it when necessary.
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
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