Installing an ATM on one’s premises
Question
What is the ruling with regards to having a Capitec ATM, or any of the other commercial banks ATM
on our business premises?
Answer
Generally, banks pay a rental to shopkeepers or property owners who install ATM’s on their premises. Now, these banks generally derive the majority of their income from interest funds. In other words, clients borrow money from banks, or finance their properties or cars through the banks, and then pay back the principal loan together with interest (over and above the loan) to the bank, which is obviously Haraam. Based on the above, it will not be permissible to install ATM’s on one’s premises.
- Answered by
- Mufti Mohammed Desai
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