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📖 Study with Ustadh AbdulAziz Al-Haqqan, live and free: https://www.sokacademy.com/live?utm_source=youtube&utm_medium=description&utm_campaign=transactions&utm_content=mtrans-l1-c8 Banks that deal in riba charge late fees, and a late fee is riba. Ustadh AbdulAziz Al-Haqqan explains what Islamic banks do instead: they write into the contract that if you delay a payment, your whole debt becomes due now rather than later. That is how they protect their rights without riba. From Lesson 1 of Modern Transactions. 📖 https://www.sokacademy.com (online academy) : Courses taught by Sheikh AbdulAziz Al-Haqqan following the literature of the prominent scholars of Islamic history 📱Social Media of Ustadh AbdulAziz Al-Haqqan حفظه الله : https://linktr.ee/gardenofilm Some banks, Islamic banks, because they want their rights. Banks that deal in riba, they put late fees, which is riba. But Islamic banks, they don't want that and they don't deal with that. What they do is they put in the contract, they say if you delay the payment, they put it in the contract itself. They say if you delay the payment, then your debt becomes due now, rather than what? Rather than later. And this is what Islamic banks do in order to preserve their rights, protect themselves. Seek knowledge for free with us live: https://www.sokacademy.com/live?utm_source=youtube&utm_medium=description&utm_campaign=transactions&utm_content=mtrans-l1-c8 #IslamicBanking #Riba #SOKAcademy #AbdulAzizAlHaqqan #ModernTransactions
