Is It Permissible Rent Out Space For Installing An ATM Belonging To A Bank?

Date:

Is there any ruling in Islam that explain where one could rent out space for installing an ATM belonging to a bank?

Praise be to Allah.

To rent out such space to a riba-based bank is not permissible, it is categorised as helping and encouraging riba. As Allah (may He be exalted) says: “And cooperate in righteousness and piety, but do not cooperate in sin and transgression. And fear Allah; indeed, Allah is severe in penalty” [al-Maa’idah 5:2].

The Prophet (PBUH) was reported to have said ‘cursed the one who consumes riba and the one who pays it, the one who writes it down and the two who witness it, and he said: they are all the same.’ This hadith was narrated by Jaabir and can be found in Muslims (1598).

A caution from AniNawawi also points out that, due to the hadith and the Quran verses against riba, it is haraam to write down the contract between two parties who engage in riba or even to witness it.

This should be clear that, for a riba-based bank, renting out space for installing an ATM is not permissible.

But what if the bank is not riba-based.

If the ATM does not belong to a specific bank, and there are Islamic banks in the country, as well as other banks that are riba-based, then there is nothing wrong with renting the space out.

However, if there are only riba-based banks in the country, renting out space for an ATM is not permissible, because it will encourage and make it easy to take part in riba.

And Allah knows best.

Source: Islam QA

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

We Need To Start Seeing Russia As Our Enemy – Say’s Muslim Fighters Readying For War In Ukraine

Crimean volunteers and Tatars from the former Soviet Union...

Breaking News – Ukrainian Muslims Has received a fatwa to go to war

'Mufti of the Spiritual Administration of Muslims of Ukraine...

US killings crosses over half a million people: Islamic Countries, Devastating

507,000 people were killed in Afghanistan, Pakistan and Iraq...