In the Name of God, the Compassionate the Merciful
Usury, the worst form of exploitation
Usury on money is quite contrary to equity and humanity; that some money is put there but nothing is done with it, instead something is gained from it, is prohibited. Usury is the worst of all forms of exploitation in which the giver receives his money in addition to profit. In this form, it is prohibited in Islam. Even the excuses made by some people are not acceptable. Escaping from usury is not acceptable either. No way, which ends in the exploitation of money is acceptable to Islam. On the other hand, the Islamic Bank, which is free of interests and usury, is a great blessing to the society, and to Islam. It is hoped that with the presence of the Islamic Bank people feel less of need for the others bank, which is Islamic in nature, which does not exploit people, and does not misuse people.
Need to close usury banks
I wish your further success from the Almighty God and expect your performance to be true and to work with pure intention. Any work starting with a pure intention will be successful and will reap the anticipated results. The intentions must be pure and for God. God Willing, the mighty work you are doing will be in the cause of God to bear eternal rewards for you. I hope your bank would be first and other banks, rooted on exploitation, violation of law and corruption, would be closed. Or the interests may be withdrawn, and the banks made Islamic and then you will become one of these banks. If the other banks become Islamic they can remain. If not they must be closed. God willing, you will be successful in your job.
[Head of the delegation: I heard that, in order to have equal shares for all, the account holders have deposited at least 1,000 rials and at most one million rials. The officials of the Islamic Bank are interested in asking you to honor them by opening an account. This will encourage them.]
Put aside one share for me. I wish you success.
[In the end, the articles of association of the Islamic Bank and way of performance were presented to Imam Khomeini and he said:]
May you be successful, God willing. May God assist you all. I wish you all the best. May Allah protect you all.