Transactions confused with interest : renting a spot to a conventional bank for ATM

Fatawa Question

I am a businessman situated in India. I have recently constructed a small building for commercial purposes which I intend to rent / lease out to some good company / firms. I have been approached by Citibank and American Express to lease out a small portion of my building on the ground floor for putting up an ATM (Automated Teller Machine) which as you all know dispenses cash and attends to other banking related activities. My question to your learned Self is whether it is permissible to do so and whether the rent that I receive from such banks will be Halal. While I do partake in normal banking activity for my business I try very hard not to involve myself in any interest related activity, which I am sure you will agree is next to impossible in a country like India. I will also be grateful to you if you can forward me any links from where I can obtain more related information. May Allah Guide all of us on the right path. Was Salaam

Fatwa

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Publication Date

2002-02-01

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Rent
• Automated tellers

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-726615

• APA
• MLA
• AMA