Is ATM Card_ Debit Card allowed_ (Islamic Finance)
Date:
Channel: Mansoor Danish
File Size: 1.17MB
AI Generated Summary ©
The speaker discusses the use of debit cards and ATM cards, stating that they are prohibited from using them on certain countries and that they are not linked to banks. They also mention that ATM transactions are prohibited only in certain situations where the bank has a system of over subjects, such as when withdrawing large amounts of money. The speaker advises caution when withdrawing large amounts of money and reminds people to only withdraw $500 if they have 500 rounds.AI Generated Transcript ©
Mr. Gatto, we're back again. And we have another question now and this is on the usage of debit cards and ATM, is it permissible to use ATM and debit cards that are not linked to banks on Riba that are not linked to banks, which are absolutely fine. There is absolutely nothing wrong in using debit cards and ATMs which are issued by Islamic banks, you're perfectly permitted to use it. And in fact, if you are living in a country where there are no Islamic banks, and the only alternative is if you go to a conventional bank, even in those situations, it is permissible to use an ATM card or a debit card. Because generally with an ATM or a debit card transaction, you're only allowed to use
your money you're not allowed to use or have an overdraft. However, if the bank has a system of overdrawing where if you withdraw that they charge you interest, then you need to be extremely careful. You need to strictly follow what your bank balance is. If your bank balance says you have 500 rounds, then you should only withdraw $500 and not. rupee are not real, extra and Allah Subhana Allah knows best