Press Release
Dar Al-Ifta' Must Repent for its Fatwa that Permits Bank Interest and Must Resume in Forbidding it as Was the Case for a Whole Century!
(Translated)

Al-Muheet Network published on Tuesday, 18/03/2014 CE the response to a question that the network asked the Egyptian Dar Al-Ifta'; which was, "Is it permitted to use the interest from the deposited funds in the banks for charity or not?" Dar Al-Ifta' permitted using the interest from the deposited funds in the bank for what is permitted by the Shari'ah such as giving sadaqa to the poor and needy stressing that the interest is permitted and nothing is wrong with it.

Strangely this Fatwa, which was not based on Shari'ah evidence, considered the development of accounting and the stability of profit rates of the banking system in the long-term as a sufficient justification for taking usury. It also denied that bank interest is the prohibited usury by Shari'ah, describing this transaction as a new financial contract, the intent is to say that it is a contract not related to the Shari'ah Law and it was not known to the Muslims; this is a distortion and misrepresentation to justify using the prohibited usury money.

The interest taken by the depositor in the bank is forbidden usury (Riba). Riba is every conditional increase on capital i.e. what was taken without any trade or effort to increase the capital is riba. That is why Allah (swt) says:

[يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِن كُنتُم مُّؤْمِنِينَ، فَإِن لَّمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِّنَ اللَّهِ وَرَسُولِهِ،ۖ وَإِن تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَالِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَ]

"O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers. And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged". [Al-Baqara: 278-279]

This Fatwa and similar ones are only to perpetuate the prohibited status quo and a justification to insist on committing the big sin of usury. Though when reviewing the fatwas issued by Dar Al-Ifta' on this issue since 1900 and until 1989 we find that they all prohibit bank interest categorically and unambiguously, It did not slip into this dangerous path only after, Sheikh Mohammed Sayed Tantawi changed his fatwa about the prohibition of bank interest in February 1989 CE, when he became the Grand Mufti of Egypt, he overturned the fatwa after six months.

[كَالَّتِي نَقَضَتْ غَزْلَهَا مِن بَعْدِ قُوَّةٍ أَنكَاثًا]

"And be not like a woman who breaks into untwisted strands the yarn which she has spun, after it has become strong." [An-Nahl: 92]

Dar al-Ifta' for nearly a century insisted clearly and unambiguously on the prohibition of bank interest thus permitting what Allah forbade! We in Hizb ut Tahrir call upon them to repent for this invalid Fatwa, and not to seek the satisfaction or fear the wrath of anyone but Allah (swt) and His Messenger (saw), He (swt) is deserving of being pleased. He (swt) says:

[يَحْلِفُونَ بِاللَّهِ لَكُمْ لِيُرْضُوكُمْ وَاللَّهُ وَرَسُولُهُ أَحَقُّ أَن يُرْضُوهُ إِن كَانُوا مُؤْمِنِينَ]

"They swear by Allah to you [Muslims] to satisfy you. But Allah and His Messenger are more worthy for them to satisfy, if they should be believers" [At-Tawba: 62]

We will not entertain refuting this fatwa as it is known to everyone that it has no standing or supporters on the ground, but from a corrupt regime that does not judge by what Allah has revealed, as well as some weak people and those who do not investigate the Halal and Haram in their transactions, no strength and might except from Allah. We are fully confident, by the will of Allah, that the capitalist system and its economic system built on usury and monopoly will perish, and that the system of Islam under the Khilafah "Caliphate" State is not a safe haven only for the Muslim Ummah, but for all mankind.

[وَأَنَّ هَٰذَا صِرَاطِي مُسْتَقِيمًا فَاتَّبِعُوهُ ۖ وَلَا تَتَّبِعُوا السُّبُلَ فَتَفَرَّقَ بِكُمْ عَن سَبِيلِهِ ۚ ذَٰلِكُمْ وَصَّاكُم بِهِ لَعَلَّكُمْ تَتَّقُونَ]

"And, [moreover], this is My path, which is straight, so follow it; and do not follow [other] ways, for you will be separated from His way. This has He instructed you that you may become righteous" [Al-An'am: 153]

Sharif Zayid
Head of Media Office of Hizb ut Tahrir
in Wilayah of Egypt