What is the ruling on depositing money in the post office; is that considered usury (riba)?
It is forbidden to deposit money in a savings account because it is considered usury (riba), which is prohibited. A known percentage is added to the principal amount for the owner of the deposited money, and this is precisely usury. Moreover, the post office invests its depositors' money in usurious banks. A Muslim is required to avoid dealing with savings accounts and usurious banks and to seek what God has made lawful. Indeed, God has threatened those who consume usury with war. Allah Almighty says: (O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers. And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged.) [Al-Baqarah: 278-279]. It is narrated in the Hadith: "A dirham of usury that a man consumes knowingly is worse than thirty-six acts of fornication," narrated by Ahmad. In Sahih Muslim, the Messenger of Allah, peace and blessings be upon him, "cursed the one who consumes usury, the one who pays it, the one who writes it down, and the two witnesses to it," and he said: "They are all equal" – meaning in sin.
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- 32714
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