What is the ruling on the Tawarruq program where the bank sells a commodity it owns (timber) located in the warehouses of a third party (Al-Fawzan Company) in an area designated for the bank, and then the client authorizes the bank to sell it to Al-Fawzan Company itself, noting that the client has the right to dispose of the commodity and sell it himself?

This transaction resembles organized tawarruq, mentioned in the resolution of the Islamic Fiqh Academy, which stipulated its impermissibility because the bank handles everything in it. The agreement for the sold item to return to its original seller is impermissible. The item remaining in the seller's warehouse without the buyer taking possession of it is not considered a valid قبض (seizure/possession) by many scholars, which makes the transaction forbidden. To avoid this, one can purchase the item and take possession of it, then sell it yourself, and it is preferable to sell it to a company other than the one from which the bank purchased it.