What is the ruling on bank interest, and is it permissible as stated in some fatwas?

There are two types of bank interest:

The first: Interest from Islamic banks (profits), which is permissible (halal), because these banks operate according to the Islamic Mudarabah (profit-sharing) system.

The second: Interest from usurious banks, which is forbidden (haram) and one of the gravest sins, because they deal in usury (riba).