Is it permissible to keep money in the bank for transactions while refusing to take interest, knowing that the bank will benefit from that interest for itself?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is impermissible to deposit money in interest-based (usurious) banks except out of necessity, provided three conditions are met: the need for the deposit due to the absence of another secure place, that the bank's transaction is not 100% interest-based to avoid aiding it in usury, and that the depositor does not take any profit, as it is forbidden interest. Usury is forbidden by the Qur'an, the , and the consensus of Muslims. This deposit is considered a loan, legally, not a trust, because it allows the bank to dispose of the money.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/19980
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- Source platform
- Ftawy
- Original fatwa ID
- 19980
- Imported
- Translation status
- Source text, unreviewed
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