The ruling on the Loan with Interest

Question :

Is dealing with the bank Riba or permissible, because many of the citizens take loans from them.

Answer:

It is forbidden for the Muslim to take a loan from anyone, whether it is gold, silver or paper money, under the condition that he will return more than it. It makes no difference whether the lender is a bank or other than a bank. This is because it is Riba, which is among the greatest of the major sins. Whichever of the banks deals in this type of transaction, then it is a Riba bank. May Allâh send blessings and peace upon our Prophet Muhammad, his family and his Companions. Source:
The Permanent Committee
Fatawa Islamiyah, Vol. 3 Pages 416-417

Read more:

The ruling on securing Money in Banks that deal with Riba

Question : The person who has a sum of money and he places it in one of the bank...

Selling Gold for Gold, Silver for Silver, hand to hand and the same for the same

Question : Verily, I sell and buy gold jewelry and someone told me that it is no...

This Contract is correct

Question : A person took a sum of 10,000 from another person with an agreement t...

The ruling on exchanging a Meter for two Meters of Garments

Question : Is it permissible to trade garments by exchanging a meter for two met...