What is the ruling on taking loans from banks that impose interest and administrative fees under various pretexts (such as buying iron and selling it in installments or profits), and whose value increases over time based on factors such as the price of oil? And is the Saudi Aramco company loan, which allows control over the interest rate, considered permissible, given that all banks claim their loans are halal?

Administrative fees differ from usurious interest in that they are fixed and correspond to a real service, and do not change with the loan amount. Usurious interest, on the other hand, is a percentage of the loan and increases as the loan amount increases. A usurious loan is not permissible except in cases of necessity.

As for the bank buying iron and selling it to you, this is the permissible tawarruq (monetization) if certain conditions are met: the bank must own and possess the iron, you must sell it to someone other than the bank, and there should be no trickery in selling it back to the original seller.

The loan from Aramco company is a forbidden usurious loan. The change in the interest rate according to the oil price does not alter the ruling of its prohibition, and it is not permissible except in cases of necessity.