The debate rages among the people on the issue of bank interest, so you see some people who support bank interest and do not see anything wrong with taking it or benefiting from it, while you see another group that does not allow or permit taking bank interest as it is a type of forbidden usury, and this is evidenced by the opinions of many Muslim jurists on this issue, what are the benefits of banks? And what is the correct ruling?
The most important banking operations
Bank banking operations and facilities include types of transactions, for example, bank loans that are granted as facilities to the beneficiaries of the people, as well as there are deposit operations in which the customer puts a certain amount of money in the bank and receives in return a certain percentage of the profits or bank interest, and these two operations are the most important The pillars of commercial banks and the focus of their banking operations. Commercial banks depend a lot on the interests they receive from customers and constitute their most important capital. Interest means every increase that the bank gives to the customer or every increase that the bank charges in exchange for giving money to the customer.
Bank interest is forbidden usury
Islam forbids usury and counts it from major sins and disobedience that are linked to God Almighty’s promise and torment, so usury is war against God and His Messenger. , or food with food in exchange for an increase in one of them, and there is usury al-nasee’ah, which is the excess that results from a debt or loan in return for deferring payment. There is no doubt that the operations of commercial banks at the present time are subject to forbidden usury, and that is from many aspects, as the bank deposits customers’ money with it. In return for giving the customer an interest on this money, and therefore the bank is as if he borrowed money from this customer and gave him that interest in return, and in fact the banks’ money consists of the sum of the financial deposits that make up his capital, and in return the bank assumes the role of a lender to customers in other banking transactions when it offers Loans to customers in return for customers to repayThese loans are in addition to a certain percentage of interest as a result of the delay, and this is undoubtedly the same as usury, which is prohibited by Islamic law.
Solve the problem of usury
The contemporary global economy has sensed the danger of crises and setbacks that it is exposed to from time to time and began to search for the reasons behind this. One of the global economists talked about solutions to the financial crisis, and on top of those solutions is reducing the interest rate to approach the zero rate, which is what Islamic law calls for