What is the ruling on Faysal Islamic Bank investing its money in interest-based banks? And is it permissible to use the interest from money deposited in an interest-based bank to pay the interest on a car purchased in installments from another bank?

A fatwa was previously issued regarding the ruling on dealing with Faisal Islamic Bank, and the definitive word on it depends on the reality of its transactions. If it is proven that the bank invests its money in riba-based (interest-based) banks, then it is impermissible to deal with it. However, if that is not proven, or if it opens current accounts without interest in riba-based banks out of necessity to conduct banking transactions—which many scholars have permitted—then there is no harm in it, provided that all its other transactions conform to Islamic law.

As for usurious (riba-based) interest, it is impermissible to spend it except on the poor or for the general welfare of Muslims. It is not permissible to spend it on private interests, such as buying a car, because need does not permit dealing with riba, especially since riba-based banks often sell cars without actually possessing them, which further increases the prohibition. Therefore, one must fear Allah and not buy a car through riba-based banks or with their interest. It is possible to buy it through an Islamic bank or from showrooms, while adhering to Shariah guidelines.