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 Sunnah, 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
- Source platform
- Ftawy
- Original fatwa ID
- 19980
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy