Is money deposited in banks in the form of a deposit, the profits of which are used for household expenses and children's education, halal?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
If funds are deposited for (profit-sharing) in an Islamic bank that observes the rulings and regulations of , then this is permissible, and the profits are lawful. However, if the deposit is made in an interest-based (ribawi) bank, then this is not permissible, and the profits derived therefrom are not lawful.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/175624
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- Ftawy
- Original fatwa ID
- 175624
- Imported
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- Source text, unreviewed
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