Back to search
The question

Is it permissible for the state to deal in usury, especially since all scholars in the country agree that banking transactions are usurious?

Share this answer

Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

Usury (Riba) is forbidden for individuals and states, based on the Almighty's saying: "Allah has permitted trade and forbidden usury." It is also forbidden to consume usury or to facilitate it. Scholars have categorized companies into three types: investing in some of them is prohibited, such as usurious banks; it is permissible in others; and mixed companies require detailed examination. It is advisable to consult the fatwas of scholars such as Dr. Yusuf Al-Shubaili, Al-Osaimi, and Al-Rajhi.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Where this answer came from
Source platform
Ftawy
Original fatwa ID
97267
Imported
Translation status
Source text, unreviewed
Read the full ruling
Read the full answer on Ftawy