What should I do with the money I have in excess of my needs, which is difficult for me to save at home, in order to avoid spending it and to achieve savings, while fearing to deposit it in usurious banks, knowing that I cannot engage in trade, and are there Islamic banks in Egypt?
You may save in banks or bank branches that carry the banner of Islamization in Egypt, choosing the best of them in terms of adherence to regulations, to open a savings account for saving your surplus funds and benefiting from the resulting profits. Saving for a need is not blameworthy in Sharia. The Prophet, peace and blessings be upon him, said to Sa'd ibn Abi Waqqas: "Indeed, that you leave your heirs wealthy is better for you than that you leave them dependent, begging from people." And the Prophet, peace and blessings be upon him, used to save a year's provisions for his family. It is not permissible to deposit money in usurious banks, even if it is a current account without interest, because that is cooperation in sin. Allah Almighty says: "And do not cooperate in sin and aggression."
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/135472
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 135472
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy