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Having
shares in the Saudi-American Bank
*Please appropriately reference
this fatwa to: www.fatwa-online.com, thankyou!*
Question:
Advise us, may Allaah increase you in knowledge, about the
ruling of having shares in the Saudi-American Bank. Is it
ribaa,
since it trades in interest and is based upon interest, as
we know?
Response:
The Saudi-American Bank and other banks, if they are based
upon ribaa
and trade in ribaa,
then it is not permissible to have shares in them. This is
because it is regarded as assisting in sin and transgression,
and Allaah has prohibited this, as He (Subhaanahu
wa Ta'aala) says:
{but
do not help one another in sin and transgression},
{Soorah
al-Maa.idah, Aayah
2].
And
with Allaah lies all success and may Allaah send prayers and
salutations upon our Prophet (sal-Allaahu
`alayhe wa sallam) and his family and his companions.
The
Permanent Committee for Islaamic Research and Fataawa,
comprising -
Head: Shaykh
'Abdul 'Azeez ibn Abdullaah ibn Baaz;
Deputy Head: Shaykh
'Abdur-Razzaaq 'Afeefee;
Member: Shaykh
'Abdullaah Ibn Qu'ood
Fataawa al-Lajnah ad-Daa.imah lil-Buhooth al-'Ilmiyyah wal-Iftaa.
- Volume 13, Page 506, Fatwa No.3134
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