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The question

What is the ruling on depositing money in a bank account with permissible profits to compensate for a loss resulting from the purchase of two cars, one of which was stolen and the other sold at a loss?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

It is permissible to deposit money in Islamic banks that adhere to Sharia regulations. As for depositing money in interest-based (ribawi) banks, it is not permissible except in cases where there is a fear of the money being stolen, and there is no other way to preserve it. Depositing money in interest-based banks, with the bank using it in interest-based transactions, is forbidden if other methods of preserving the money are available.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
170927
Imported
Translation status
Source text, unreviewed
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