The ruling on the Loan with Interest

Question :

Is dealing with the bank Riba or permissible, because many of the citizens take loans from them.

Answer:

It is forbidden for the Muslim to take a loan from anyone, whether it is gold, silver or paper money, under the condition that he will return more than it. It makes no difference whether the lender is a bank or other than a bank. This is because it is Riba, which is among the greatest of the major sins. Whichever of the banks deals in this type of transaction, then it is a Riba bank. May Allâh send blessings and peace upon our Prophet Muhammad, his family and his Companions. Source:
The Permanent Committee
Fatawa Islamiyah, Vol. 3 Pages 416-417

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