Is it permissible to deposit money in banks that do not specify interest or profits?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is permissible to deposit money in a bank if it does not deal in usury and its investment adheres to -compliant regulations; otherwise, depositing money in it is forbidden. Among the Sharia-compliant regulations are that the investment must be limited to areas permissible by Islamic law, that the profit from the invested money be a common percentage of the projected profit, and that in the event of a loss, the loss be borne by the principal capital.
Summarized from the full answer at Ftawy · imported
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- Ftawy
- Original fatwa ID
- 65805
- Imported
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