Current Legal Issues

Transactions, Including Banks

(Q.77) Is it permissible to take usury from the unbelievers, especially when one live in their countries?

Yes, al-adhhar, taking usury from the unbelievers is permissible.

(Q.78) Some publications have this sentence printed on them, "All rights reserved for the writer or publisher". Should one observe such prohibition? With the assumption of heeding the warning, is it permissible to print such material [without taking the publishers' permission] when social or religious good is at stake?

Compliance is not obligatory, yet it is most befitting if permission is sought, especially that of the author. Allah is All Knowing.

(Q.79a) For a certain amount of money some people allow you to use their name and a photo copy of their identity card, so that you can buy company shares and the like. Some consider this as a buying and selling transaction of the name. Is it permissible to enter into such a transaction? Assuming it is not permissible, is there any legal justification to rectify it?

This is not a sale of the name. It is an authorisation from the bearer of the name to another to make use of it and that of the ID card in buying shares in exchange for some money. There is no harm in such a transaction.

(Q.79b) On the assumption of permissibility, could the parent of a minor or his guardian have the discretion to use their name for the same purpose? Also, to whom should the benefit be-the child or his guardian?

If no damage shall ensue, it is permissible; it is likely that the benefit be the child.

(Q.80) If you consider the assets of state owned banks or those of joint ownership as majhoulil malik (that whose owner is anonymous), is there any justification to enter into dealings with these banks in such a manner that it be free from the taint of usury?

Answers to similar questions were provided in (Mustahdathatil Masaa'il - Current Issues), an addendum to our (Minhajus Saliheen - the Path of the Good), a Manual of Articles of Islamic Acts, Ibadaat (acts of worship). [The section in question will follow this one].

(Q.81) Some banks provide card either free or for a fee. Those holding such cards can: (a) Withdraw money from the bank's cash dispensing machines without interest; there will, though, be a charge for using the machine. (b) Should the borrower delay repayment of the money for a month [or over] interest shall be taken from him by way of service charge or the like. What is the ruling on the delay in repaying the money and otherwise?

There is no harm in withdrawing money with the intent of procuring it on the basis of majhoulil malik, not a loan. As for making the money good, it should be in consultation with the Marji'. One should not pay attention to the fact that the bank shall collect the original amount plus the increase thereupon. If the bank asks the person to pay back the amount withdrawn plus the increase he should pay both the amounts.

(Q.82) A privately owned bank invited its customers to deposit money with the bank, say one thousand Dirhams that they can withdraw at any time. After some time the bank shall give a specific gift to the depositors. Is it permissible to enter into such a deal to get the gift?

Depositing money with the condition of [getting] the gift is haraam. The condition here means you make the [transaction] of depositing contingent on an undertaking given by the bank to give the gift. If it was just for the knowledge that the bank shall give the gift, it is not going to dent the permissibility of depositing and that of receiving the granted gift as halal. Allah is All Knowing.