Is it permissible for a bank to appoint someone to build a residence with the bank's money, with the bank having the right to monitor and profit, in the absence of Islamic banks and the unavailability of other alternatives such as benevolent loans (qard hassan) or zakat funds?

It is impermissible to deal with usurious banks, because it strengthens them and aids them in practicing usury. An exception to this is the person in dire necessity who fears perishing or severe harm; it is permissible for him to deal with them to the extent of his necessity, acting upon the rule, "Necessities permit the forbidden."