The Majlis Archive

Finance - Banking - Business The Majlis Vol 26 No 05, p.2

For using our premises to install an ATM machine, the bank offers to pay rental in one of two weighs: (1) A fixed monthly rental, (2) R1 per transacti

Question

For using our premises to install an ATM machine, the bank offers to pay rental in one of two weighs: (1) A fixed monthly rental, (2) R1 per transaction. Is this permissible? A Mufti says that the second option is permissible.

Answer

The Mufti has erred. Instead of advising that only the first option is permissible, he says that the second ambiguous option is permissible. The fatwa is incorrect. The second option is not permissible. The first option – fixed monthly rental, is permissible.

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The Majlis Vol 26 No 05
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