Is it permissible to subscribe to a club through financing from a usurious bank, knowing that the bank first buys the membership and then sells it in fixed and determined installments, and that the membership is an intangible asset, and in case of default on payment, the bank recovers the remaining amount from the club without any additions?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is common for the bank to pay the membership fee to the club in advance, and then collect it from the subscriber in installments with interest. This is a usurious loan and is forbidden, because the membership is in the person's name and is not a commodity that can be bought and sold for the bank to purchase and then sell to you.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/178078
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- Ftawy
- Original fatwa ID
- 178078
- Imported
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- Source text, unreviewed
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